Grit to exit Letlole la Rona

Grit, a Mauritius-domiciled entity with roots in London, at one point was the second largest shareholder in LLR with 30% equity, second only to the founding shareholder, the Botswana Development Corporation (BDC) with 40%. However, the real estate group began offloading its shares in December after a heated Annual General Meeting where investors clashed over strategic control of the local property firm.

Some shareholders, BusinessWeek is informed, felt that Grit was exerting too much control over LLR’s 'Go-To-Africa' strategy, the local property group’s much-vaunted push for continental expansion.