Chinese investor AXA Resources exits Zim’s Bindura Nickel Corporation, sells stake to Sotic International

ZIMBABWE – Chinese investors ASA Resources, have exited local nickel producer, Bindura Nickel Corporation (BNC), with local mining entity Sotic International taking up the majority 74.73% stake that was held by ASA and its partners, Mwana Africa and Zimnick. Sotic will hold the BNC shares under local entity, Kuvimba Mining House (Private) Limited. Mwana, Zimnick and Asa Gold hold a combined 74.73% of the entire issued share capital of the company, consequently, the purchaser is now the indirect holder of such shares,” said BNC. “Based on the market value of…

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Tech-enabled forestry company Komaza raises US$28m in Series B funding round

KENYA – Novastar Ventures, AXA Investment Managers (through the AXA Impact Fund: Climate & Biodiversity), FMO and Mirova’s Land Degradation Neutrality Fund, have invested US$28 million in a Series B round in Kenya-based tech-enabled sustainable forestry company Komaza. Komaza secured a first close of US$28 million of the company’s planned US$33 million Series B equity financing. “In the three years since we closed the Series A financing, Komaza has demonstrated the ability to execute and grow its distinctive, tech-enabled microforestry business model,” said Steve Beck, founding partner at Novastar Ventures.…

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