Mangwana Opportunities Fund gets approval to acquire stake in Invictus Energy

ZIMBABWE – Invictus Energy Limited, an independent oil and gas exploration company, has announced that it has completed the placement for an equivalent AUD$0.44 million (US$310,297) with the Mangwana Opportunities Fund as announced on 30 April 2020 following approval received from the Reserve Bank of Zimbabwe Exchange Control authority. Mangwana Opportunities Fund is an investor owned, closed end investment company which is managed by Mangwana Capital. It is funded by Zimbabwean institutional investors including pension funds and invests primarily in the fields of Agriculture, Mining and Tourism with an investment…

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Competition Tribunal of South Africa gives nod to sale of Tongaat Hulett’s starch business

SOUTH AFRICA – The Competition Tribunal of South Africa has approved the acquisition of Tongaat Hulett’s Starch business by Barloworld subsidiary, KKL Group for R5.35billion (US$342.6m). The agriculture and agri-processing company Tongaat Hulett stated that the decision was the third approval in the jurisdictions relevant to the transaction, with the Botswana Competition Commission and the Common Market for Eastern and Southern Africa (Comesa) Competition Commission having already approved the transaction without conditions. The final approval is awaited from the Indonesian Competition Commission, probably in the first week of August, reports IoL. “This…

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