RETAIL trading company, Metcash Namibia has been taken over by the Botswana-based firm Sefalana Holdings. Sefalana is listed on the Botswana Stock Exchange and the Johannesburg Securities Exchange.
The Namibian Competition Commission has approved the takeover, The Namibian established yesterday from sources working on the deal. Metcash is expected to make the official announcement on Friday.
Sefalana will take over 33 Metcash shops across the country. Metcash trading as Metro has interest in the distribution of groceries and other consumer goods.
The Botswana-based newspaper, Sunday Standard, reported last week that the entry into the Namibian market is seen as a springboard for the company's entry into the region.
Sefalana opened its first store outside Botswana in Katima Mulilo, Namibia in January this year and the Metro purchase will increase its preference in Namibia. In Botswana, Sefalana operates Shoppers and Cash and Carry.
The Namibian has learnt Metcash through its lawyers has informed its clients about the impending take over by Sefalana and that the company will be sold as a going concern.
Sefalana operates through several subsidiaries, including Foods Botswana, MF Holdings, KSI Holdings and Sefalana Properties Botswana. Sefalana was formed in 1986. Currently, 86% of the company's shares are held and controlled by the citizens of Botswana, spread across approximately 1500 shareholders. Sefalana owns 100% of Sefalana Cash & Carry a leading wholesaler and retailer of fast moving consumer goods. Sefcash operates 48 stores throughout Botswana trading under the names Sefalana Hyper Store, Sefalana Cash & Carry, Shoppers Supermarket, Capital Tobacco and Liquor Shop. Sefcash currently employs over 2 000 people.
(BY CHAMWE KAIRA/ The Namibian)
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The Namibian Competition Commission has approved the takeover, The Namibian established yesterday from sources working on the deal. Metcash is expected to make the official announcement on Friday.
Sefalana will take over 33 Metcash shops across the country. Metcash trading as Metro has interest in the distribution of groceries and other consumer goods.
The Botswana-based newspaper, Sunday Standard, reported last week that the entry into the Namibian market is seen as a springboard for the company's entry into the region.
Sefalana opened its first store outside Botswana in Katima Mulilo, Namibia in January this year and the Metro purchase will increase its preference in Namibia. In Botswana, Sefalana operates Shoppers and Cash and Carry.
The Namibian has learnt Metcash through its lawyers has informed its clients about the impending take over by Sefalana and that the company will be sold as a going concern.
Sefalana operates through several subsidiaries, including Foods Botswana, MF Holdings, KSI Holdings and Sefalana Properties Botswana. Sefalana was formed in 1986. Currently, 86% of the company's shares are held and controlled by the citizens of Botswana, spread across approximately 1500 shareholders. Sefalana owns 100% of Sefalana Cash & Carry a leading wholesaler and retailer of fast moving consumer goods. Sefcash operates 48 stores throughout Botswana trading under the names Sefalana Hyper Store, Sefalana Cash & Carry, Shoppers Supermarket, Capital Tobacco and Liquor Shop. Sefcash currently employs over 2 000 people.
(BY CHAMWE KAIRA/ The Namibian)
( Sharing is caring! Plz tweet, like and share + leave a comment at http://www.facebook.com/bonaafrica or http://www.facebook.com/botswanainfo and http://www.facebook.com/sportsmonitor )