Monday, December 11, 2017 UTC
News > Private Equity > Deals

NMCF acquires Swanib Cables

Africa Global Funds
Oct. 11, 2017, 10:26 p.m.
449

Word count: 330

The Namibian Mid-Cap Fund (NMCF) has acquired 100% of the shareholding in Swanib Cables from Powertech International Holdings, part of the JSE listed Altron Group.

Receive ONE magazine and TWO locked articles of your choice for FREE when you register an account
Share:

The Namibian Mid-Cap Fund (NMCF) has acquired 100% of the shareholding in Swanib Cables from Powertech International Holdings, part of the JSE listed Altron Group.

Swanib Cables, a distributor of electric cables, transformers and fibre optic cables to the Namibian mining, utilities / infrastructure and telecom sectors has been a market leader over the past 20 years. 

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 acquisition is aligned with the Namibian Government and the Government Institutions Pensions Fund’s (GIPF) 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, and empowering locals, including previously disadvantaged Namibians, through meaningful equity participation and Namibian job creation.

Musa Capital Namibia (MCN) is the fund manager for the Namibian Mid-Cap Fund, and a subsidiary of Johannesburg based firm, Musa Group (MG).  

MG is a diversified operating company with financial advisory and fund management capabilities that has been operating in Africa for 22 years.  

NMCF is Musa Group’s third African private equity fund.

NMCF is a Namfisa registered investment vehicle, organized as a Trust in Namibia for the purpose of making quasi-equity and equity investments in private Namibian companies.  

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.

Registration Login
Sign in with social account
or
Lost your Password?
Registration Login
Sign in with social account
or
Registration Login
Registration