MyBucks SA And Its Shareholder Ecsponent Limited newzimbabwe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newzimbabwe.com Daily Mail and Mail on Sunday newspapers.
MyBucks Group has entered into an agreement with Xtenda Finance Limited, a Zambia microfinance entity founded by former BancABC Group executives for the sale of 45 percent of its Zambian subsidiary for US$2,7 million after Dr Rajan Mahtani, an indirect shareholder reportedly failed to meet the deadline for payment of a call option.
Xtenda is owned by DBF Capital Partners and its shareholders are Mr Douglas Munatsi, Francis Dzanya and Beki Moyo.
The deal would give Xtenda, 100 percent shareholding in MyBucks Zambia after an earlier agreement which was entered into in June 2020 to buy 55 percent stake for US$3,3 million.
Both transactions are subject to approval by the central bank of Zambia. Banker, George Manyere, is the majority shareholder in MyBucks Group through his JSE-listed Ecsponent Limited.