Namibian Mid-Cap Fund acquires Swanib
The Swanib acquisition was made with the intention to grow the organisation into a regional diversified distribution platform.
The Namibian Mid-Cap Fund (NMCF) has acquired 100% of the shareholding in Swanib Cables from Powertech Holdings, part of the JSE listed Altron Group.
Swanib Cables is a distributor of electric cables, transformers and fibre optic cables to the Namibian mining, utilities, infrastructure and telecom sectors. It boasts a robust customer base which includes multi-national mining operations, national and regional government, as well as Namibian blue-chip companies.
The Swanib acquisition was made with the intention to grow the organisation into a regional diversified distribution platform through a combination of organic and bolt-on acquisitive growth, the company said in a statement.
“The acquisition is aligned with the government and the Government Institutions Pensions Fund’s policy goals of infrastructure investment to drive economic growth, job creation, as well as meaningful economic transformation and participation.”
The transaction is expected to provide broader benefits to the Namibian economy, which include localising shareholding from a South African JSE-listed shareholder to Namibian beneficiaries and incentivising empowerment partners to grow the value of the business. It will also empower locals, including previously disadvantaged Namibians, through meaningful equity participation and job creation, the company says.
Musa Capital Namibia (MCN) is the fund manager for MNCF and a subsidiary of Musa Group. Musa is a diversified operating company with financial advisory and fund management capabilities that has been operating in Africa for 22 years. NMCF is Musa’s third African private equity fund.
NMCF is a registered investment vehicle with the Namibia Financial Institutions Supervisory Authority (Namfisa). It is organised as a trust in Namibia for the purpose of making quasi-equity and equity investments in private companies locally.
MCN primarily targets investments into existing businesses requiring expansion capital in the following priority sectors: agribusiness, consumer related industries, financial services, logistics, and light infrastructure.
The fund’s focus on middle market companies drives small and medium enterprise (SME) development, which in turn positions each investment to have the maximum transformational impact for the Namibian economy, the statement says.
Swanib Cables is a distributor of electric cables, transformers and fibre optic cables to the Namibian mining, utilities, infrastructure and telecom sectors. It boasts a robust customer base which includes multi-national mining operations, national and regional government, as well as Namibian blue-chip companies.
The Swanib acquisition was made with the intention to grow the organisation into a regional diversified distribution platform through a combination of organic and bolt-on acquisitive growth, the company said in a statement.
“The acquisition is aligned with the government and the Government Institutions Pensions Fund’s policy goals of infrastructure investment to drive economic growth, job creation, as well as meaningful economic transformation and participation.”
The transaction is expected to provide broader benefits to the Namibian economy, which include localising shareholding from a South African JSE-listed shareholder to Namibian beneficiaries and incentivising empowerment partners to grow the value of the business. It will also empower locals, including previously disadvantaged Namibians, through meaningful equity participation and job creation, the company says.
Musa Capital Namibia (MCN) is the fund manager for MNCF and a subsidiary of Musa Group. Musa is a diversified operating company with financial advisory and fund management capabilities that has been operating in Africa for 22 years. NMCF is Musa’s third African private equity fund.
NMCF is a registered investment vehicle with the Namibia Financial Institutions Supervisory Authority (Namfisa). It is organised as a trust in Namibia for the purpose of making quasi-equity and equity investments in private companies locally.
MCN primarily targets investments into existing businesses requiring expansion capital in the following priority sectors: agribusiness, consumer related industries, financial services, logistics, and light infrastructure.
The fund’s focus on middle market companies drives small and medium enterprise (SME) development, which in turn positions each investment to have the maximum transformational impact for the Namibian economy, the statement says.
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