Such as Nedbank Malawi: Luxembourg, December 9th, 2016 – Frankfurt-listed African bank group MyBucks S.A (MyBucks) today announced, that it’s subsidiary MyBucks Banking Corporation Limited (MyBucks Malawi or MBC Malawi), secured approval from the Reserve Bank of Malawi to acquire 100% of Nedbank Malawi Limited on the 2nd December 2019.

MyBucks Malawi and Nedbank SA are now working on meeting certain suspensive conditions to facilitate the completion of the transaction. Completion is expected in the first quarter of 2020.

MyBucks’ presence in Malawi stared with microlending business, GetBucks Malawi, in 2013 and was subsequently expanded through the acquisition of 50% of New Finance Bank Malawi Limited (“FNB”) in 2017. Both operations where consolidated into MyBucks Malawi through a parallel buy-out of the other shareholders in 20119.

MyBucks notably turned around MyBucks Malawi from a loss-marking position to a profit and opened the world’s first banking branch in a refugee camp in 2018. It also listed the first ever corporate bond on the Malawi Stock Exchange in the same year. Through the acquisition of Nedbank Malawi, MyBucks Malawi aims to boost it’s presence and growth trajectory in the country.

Johannesburg – June 29, 2018 – Ecsponent Limted announced a series of transactions today, which will see the Group expand it’s African investment portfolio, with a particular focus on renewable energy and financial services that promote financial inclusion. Since the end of March 2018, the Group has announced it’s intention to conclude transactions in excess of R1 billion as a continuation of it’s strategy to enhance the Ecsponent Group’ Equity Holdings portfolio, by investing in assets that will provide the Group with medium to long-term capital growth.

In the transactions announced today, Ecsponent Treasury Services will acquire 100% equity in Pink Orchid, pending relevant shareholder and board approval, in a transaction worth R280 million. It involves the acquisition of various assets with profitable opportunities to extend it’s African and foreign currency investment portfolio.

In addition to the acquisition, Ecsponent has entered into a n investment management agreement, which if approved, sees Ecsponent Limited, MHMK Capital and Ecsponent Botswana cooperate for 10 years, with the agreement renewable thereafter.

MHMK Capital is currently controlled by Zimbabwean businessman George Manyere. Manyere was the founder and CEO of Brainworks Limited, a diversified investment holding company and the first Zimbabwean company with a primary listing on the JSE’s main board. He is also the vice chairman of Ecsponent’s  board and the company’s majority shareholder. MHMK Capital has significant portfolio and pipeline of deals in several sectors and countries, which will assist in the Group achieving it’s objectives.

The Group will also underwrite and subscribe for all the shares in Invest Solar Africa (up to maximum of BWP 30 000 000), which are not taken up during the initial public offering when invest Solar lists it’s ordinary shares on the Venture Capital board of Botswana Stock Exchange.

Ecsponent CEO Terence Gregory said that these transactions will reinforce the group’s strategy to develop and expand it’s operations in the rest of Arica” These important developments enable us to invest in entrepreneurs and companies with proven track records tor building diversified and well-managed, high -growth.