Afinitas looks to expand African footprint
Staff Writer | Wednesday March 15, 2017 15:56
Last year the Botswana Stock Exchange (BSE)-listed company announced two new investments, Ethiopia Investments Limited, a new company focused on investing in Ethiopia, and Adventis Limited, an asset management company focused on investing in and across Africa.
“In the last quarter of 2016 an expansion of the activities of Africa Events Limited (AEL), a 50% owned event management company, was approved.
In anticipation of this expansion, AEL will be running a series of investor trips into 12 African countries during 2017-2018,” stated the company.
According to Afinitas, these will be focused on connecting investors with investment opportunities in the infrastructure, energy, power, renewables, mining, oil and gas sectors.
The company has appointed a management team to run these events.
In addition AFSIC, AEL’s flagship event focused on investment into Africa’s financial sector, will take place in London during May 2017 and is anticipated to witness record attendance numbers for the fifth year in a row.
“Significant progress has been made in rolling out both of these new investments. Management teams are in place and the respective companies are making good progress,” the company said in a statement.
Meanwhile, the company says the financial statements to December 2016 are likely to reflect a greater loss than reported in the comparative period.
This is attributed to the fact that the 2016 financial statements cover 12 months of full operations. In contrast to the 2015 financial statements, which covered five months of operations, during the nascent stage of the business.
Accordingly, a year‐on‐year comparison will show a material change in the financial performance of the company.
The listings requirements of the BSE require Afinitas Limited to announce, through the BSE and the press, any circumstances or events that have, or are likely to have, a material bearing on the financial results of the group.
Afinitas joined the BSE in 2015 when it listed 213 million shares on the bourse at P1 each.