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MVELAPHANDA GROUP
Passive investment company will be active
EMPOWERMENT investment company Mvelaphanda Group, founded on the old Rebserve listing, has not caught the market's imagination since its official formation on 13 December last year.
That despite claims that Mvela Group is South Africa's "pre-eminent broad-based, black controlled, owned and managed group" - and the directors' ambitions to ensure the group becomes the largest black diversified holding company.
In fact, even after the investment presentations by chairman Tokyo Sexwale and CEO Stephen Levenberg last month, the market has remained lukewarm and only the value players appear keen to nibble away at the share with any appetite.
Admittedly, there's nothing terribly sexy in the fact that Mvela Group (whose current asset base is worth more than R3bn) intends being a sprawling, passive investment company where net asset value of the collective investments is more important than bottom line.
One may even liken Mvela's intended structure to that old SA investment bastion Sankorp, which at one time compiled an industrial and commercial asset...