Mar 24, 2017 Last Updated 10:30 AM, Mar 24, 2017

Actis invests $65m into Tekkie Town

ABN – Global private equity investor Actis has invested US$65 million into Tekkie Town, South Africa's leading independent sports and lifestyle shoe retailer.
 

Actis will take a significant minority stake in the company, which has over 265 stores across South Africa.

Actis Director David Cooke will join the Tekkie Town Board and Braam van Huyssteen will remain executive chairman of Tekkie Town.

Cooke said: "Braam and his team have built a fantastic business targeting the consumer segment that aligns with our investment strategy – brand aspirational, emerging middle class consumers who are looking for quality products at real value.

“We look forward to partnering with Braam to help the business continue its impressive growth in South Africa and to expand to other countries in the continent."

Van Huyssteen said: "I am excited to have Actis on board.

“With its excellent track record of investing in South Africa and deep understanding of the African retail market, I am confident that together we will develop the business into a multi-national customer centric operation.”

@ABNetworkOnline

Safari Investments almost doubles earnings

Township shopping mall investment company, Safari, has managed to weather recent strains on consumer spending.

The group grew its earnings nearly 50% in the six months to September, the company reported in its financial results on Wednesday.

CEO Francois Marais said Safari was looking to more than double its portfolio to R3bn within four years and said he was excited by the retail node it was developing on Maunde Street, Atteridgeville, in the City of Tshwane. The node was intended to strengthen its Attlyn Shopping Centre.

The group is also making additions to its Thabong Shopping Centre in Sebokeng.

Marais said Safari would continue to invest in quality income-generating property in areas where many property funds may have missed opportunities.

"We believe township properties still offer a lot to investors and want to make shopping experiences there as good as those in non-township," he said.

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