Bidvest Sells Logistics Unit Stake to Investment Firm Akhona (2)

A subsidiary of South African conglomerate Bidvest Group Ltd. is selling a 27.5% stake in a logistics business to black women-owned financial firm Akhona Strategic Investments.

Akhona, headed by former investment banker Noluthando Gosa, will purchase the Bidvest International Logistics stake from Bidfreight. African Bank Ltd. and Greenpoint Capital will fund the deal, Gosa said, but declined to disclose further financial details on the transaction.

Noluthando Gosa

Source: Akhona Strategic Investments

“The deal forms part of our strategy to invest in sectors like logistics that form the backbone of our economy and backing management teams with the ability to weather economic cycles,” she said ...