Italtile sells stake to Yard Investments Holdings to improve its BEE credentials

Italtile sells stake to Yard Investments Holdings to improve its BEE credentials

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SOUTH AFRICA – Italtile Commercial Division, a tile manufacturer has sold 2% of its stake for R312.2m (US$21.21) to Yard Investments Holdings in a black economic empowerment (BEE) transaction, reported Business Day. Yard Investments Holdings, an equity investment firm, was founded by…

Standard Bank secures strategic stake in Fintech firm Nomanini

Standard Bank secures strategic stake in Fintech firm Nomanini

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SOUTH AFRICA – Standard Bank, one of Africa’s largest financial institutions has acquired a strategic stake in Nomanini, the pioneering fintech platform for the informal retail ecosystem. The financial institution had taken the leading role in the funding round that enabled Nomanini…

Labat Africa enters cannabis market, secures trading licence in Lesotho

Labat Africa enters cannabis market, secures trading licence in Lesotho

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SOUTH AFRICA – South Africa’s investment group Labat Africa is set diversify into the booming multi-billion dollar cannabis industry. This is after it acquired a trading license to cultivate, manufacture, supply, hold, import, export and transit cannabis in the Kingdom of Lesotho….

Lafarge Africa approves the sale of its South African subsidiary for US$316 million

Lafarge Africa approves the sale of its South African subsidiary for US$316 million

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NIGERIA – Lafarge Africa Plc, a pan African cement manufacturer headquartered in Nigeria is set to offload Lafarge South Africa Holding Limited (LSAH)to LafargeHolcim Group for the sum of US$316.2 million. This follows the shareholder’s approval of the proposed sale of the…