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MTN Zakhele Futhi gets R75m injection


MTN Zakhele Futhi, the mobile operator’s special purpose empowerment vehicle, has received a further R75 million to lessen the blow from MTN Group’s decision to withhold the final dividend for the year to the end of December 2020. Photo: REUTERS/Afolabi Sotunde/File Photo
MTN Zakhele Futhi gets R75m injection
By Dineo Faku
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JOHANNESBURG - MTN ZAKHELE Futhi, the mobile operator’s special purpose empowerment vehicle, has received a further R75 million to lessen the blow from MTN Group’s decision to withhold the final dividend for the year to the end of December 2020.
The scheme’s chairperson, Belinda Mapongwana, said the money would enable MTN Zakhele Futhi to meet its cash requirements for the next 12 months. ....

North West , South Africa , Belinda Mapongwana , Zakhele Futhi , Kagiso Asset Management , வடக்கு மேற்கு ,

Brimstone Repays More Than R1 Billion Debt In Tough Reporting Period – AfricaBusiness.com


Debt repayment to funders in excess of R1 billion
Reduction of R129.8m in finance costs
7m raised from disposal of portion of Equites and Phuthuma Nathi stakes
4m raised from disposal of portion of Life Healthcare stake
Improved debt and liquidity ratios
Brimstone’s shareholding in Oceana Group increased to 25.01%
[Cape Town, 3 March 2021] Brimstone today released its Group results for the year ended 30 December 2020 reporting a reduction of over R1 billion in debt during the year.
Brimstone’s two largest investments, Sea Harvest and Oceana Group, produced strong results in an extremely difficult operating and trading period exacerbated by the COVID-19 pandemic. ....

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