Asset manager Mergence Namibia acquires majority stake in two Ejuva renewable energy projects in Gobabis

NAMIBIA – Asset manager Mergence Unlisted Investment Managers (Namibia), has upped its shareholding in the two Ejuva renewable energy projects in Gobabis from 17% to a majority stake of 66% having acquired the 49% previously held by co-developer and initial part-financier, CIGenCo, a subsidiary of South Africa-listed Consolidated Infrastructure Group (CIG). The two adjacent Ejuva solar power plants, with a combined output of 10MW, were officially opened in August 2018 as part of the Namibian Feed-in Tariff program (REFIT program). The REFIT programme was initiated by the Ministry of Mines…

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Stanlib acquires 10% stake in renewable energy developer Mulilo Energy

SOUTH AFRICA – The Infrastructure Investments unit of South African asset manager Stanlib has bought a 10% stake in local renewable energy developer Mulilo Energy Holdings. A joint statement emphasises that this transaction is strategic and complementary to both companies. “It provides Mulilo with a robust financial partner that has an appetite to invest in new developments and planned growth. Similarly, it offers STANLIB access to a leading South African renewable energy platform with a strong development pipeline, of close to 3GW of large-scale wind and solar PV projects,” reads…

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Axis Holdco acquires HMG and HMA subsidiaries of asset manager Harel Mallac Co

MAURITIUS – Axis Holdco, a private limited company, has acquired Harel Mallac Global (HMG) and Harel Mallac Advisory (HMA), subsidiaries of Harel Mallac Co, a company that is involved in the manufacturing and trading, business service as well as asset management businesses. The transaction has already received regulatory approval and completed on August 21, 2020. As part of this process, HMG and HMA are respectively being rebranded to Axis Global Services and Axis Corporate Services.  “This is a yet another milestone for the firm as it seeks to achieve its…

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Asset manager Ninety One appoints Eino Emvula as new Managing Director

NAMIBIA – Ninety One (previously Investec Asset Management), an independent, active global asset manager, has appointed Eino Emvula as the new Managing Director for Namibia and Africa ex-SA. Emvula will join Ninety One from Namibia Asset Management (NAM), where he was CEO. He will officially start his new role on 1 February 2021. Gwyneth Rukoro will continue to lead Ninety One in Namibia as Acting Managing Director. During the past decade, Emvula has been instrumental in growing NAM into the second largest third-party asset manager in Namibia after Ninety One.…

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Futuregrowth invests in online booking platform SweepSouth to expand its business

SOUTH AFRICA – Futuregrowth Asset Manager, a fixed-interest asset manager, via its Development Equity Fund has invested in SweepSouth, a disruptive online platform for booking, managing and paying for home cleaning, and now a variety of other services. “SweepSouth is an early- stage business disruptor that, instead of solving a Silicon Valley problem, is solving South African-specific problems,” Amrish Narrandes, Head of Unlisted Equity Transactions at Futuregrowth, said. “The company has taken a large segment of the informal sector, which is one of the biggest employers in South Africa, and…

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