Namibian Mid-Cap Fund completes acquisition of Swanib Cables
The Namibian Mid-Cap Fund (NMCF) has acquired Swanib Cables, taking 100% of the shareholding from Powertech International Holdings, a Johannesburg Stock Exchange (JSE) listed company in the Altron Group.
Swanib Cables has been a market-leading cable company for the past 20 years, supplying electric and fibre optic cables, along with transformers, to the mining, utilities and infrastructure, and telecom sectors of Namibia.
SEE ALSO:
The NMCF’s funding for the acquisition derived from the Government Institutions Pension Fund (GIPF), an organisation that has intended to drive economic growth through infrastructure investment.
“The acquisition is aligned with the Namibian Government and the Government Institutions Pensions Fund’s policy goals of infrastructure investment to drive economic growth, job creation, as well as meaningful economic transformation and participation” the fund stated.
NMCF has reported that the deal is structured through an intermediate beneficiary.
The NMCF and GIPF’s intentions with Swanib Cables are to grow the business into a regional diversified distribution platform, through building on the company’s pre-existing success.
NMCF plan to expand this venture through further acquisitions.
Featured Articles
SAP has announced it has appointed a new President for a newly-created EMEA region, aiming to make the most of the opportunities of cloud and AI technology
Technology giant SAP has expanded its portfolio with the acquisition of LeanIX, a leader in enterprise architecture management (EAM) software
To help businesses achieve increased productivity, Siemens and Microsoft are deepening their partnership by showcasing the benefits of generative AI