Namibian Mid-Cap Fund completes acquisition of Swanib Cables

By Sophie Chapman

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.

Share
Share

Featured Articles

Age of the CISO – a new chapter for cyber security

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the new age of the CISO

Exclusive: Making the UAE a global force in cybersecurity

His Excellency Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government, on plans to build the world’s most secure digital society for a safer society

UAE cyber leaders – back to basics to prepare for the future

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the future of cybersecurity

Top 10: Procurement & Supply Chain LIVE speaker highlights

Leadership & Strategy

10 apps to improve wellbeing on World Mental Health Day

Leadership & Strategy

Meet the COO: Brook Sims of MAC Diversity Recruiters

Leadership & Strategy