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Sefalana exits R250m SA investment

Friday, February 04, 2022 | 1210 Views |

Moving up: Sefalana is keeping an eye open for regional growth this year

Diversified retail and manufacturing group, Sefalana Holdings will this year cash in a R250 million (P188.5 million) investment made in a South African retail consortium, opting out of converting the funds into equity, due to a negative market outlook in that country.

Sefalana invested R250 million in the Fast Moving Consumer Goods (FMCG) consortium in July 2017 with an agreement on fixed annual earnings and the option to convert the investment into a 30% equity stake after five years.

In a commentary accompanying the group’s recently released interim results, directors said a decision had been taken to cash out the investment and not pursue the conversion to equity.

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