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Ports and Maritime authority to announce investment ready projects in the ports and maritime infrastructure development value chain

The Port Management Association of Eastern & Southern Africa (PMAESA) will be announcing the status of investment ready projects in the ports and maritime sector. The announcement is scheduled to take place at the PMAESA Conference 2017 and Investor Forum to be hosted in collaboration with the Government of Zambia’s Ministry of Transport and Communications and the Development Bank of Southern Africa on 22-23 November 2017 at the aha David Livingstone Safari Lodge, Zambia.

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Remgro sell Unilever South Africa stake for R11.9bn

Remgro, a leading South African investment company, has announced that its subsidiary is selling its 26% stake in Unilever South Africa Holdings to Unilever for a deal worth R11.9bn (US$894mn) that will include both cash and the complete ownership of Unilever’s South African spreads business.

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PSG Group invests R675m in local property business Amdec

South Africa’s PSG Group spent R675 million ($50.77 million) for a 50% stake in Evergreen Lifestyle, part of local property business Amdec, as it eyes expansion into the lucrative retirement property sector, the companies said on Tuesday.

“Our investment mandate is to invest in and work with businesses that show high growth potential,” said Nico de Waal, chief executive of PSG Alpha, a unit of PSG Group. 

De Waal said the investment was subject to regulatory approval.

The investment holding company, PSG Group, is already a majority shareholder of Curro Holdings, South Africa’s largest private education group which is expected to float its higher education business next month.

James Wilson, chief executive of Amdec Group, which includes the mixed-use Melrose Arch in Johannesburg, said there was scope to meet increased demand for retirement lifestyle villages.

The cash injection will allow for expansion to around 3 000 homes over the next three years, from the current 500 homes offered now, mainly in the Cape Town region.

Beyond five years, the companies plan to have more than 20 operating villages with 10 000 homes, growing the gross asset value to R20 billion from just under R2 billion now.

“We want to scale quickly because the numbers of middle to upper-income retirees in South Africa are growing quickly, so not only does the demand for quality accommodation exist, but it is swiftly outstripping supply,” Wilson said in a launch statement.

 


 

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MoneyWeb 

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