Absa Capital announced on Tuesday that it has acquired a stake in Thebe Investment Corporation - South Africa's oldest BEE investment holding company.
In terms of the agreement, Absa Capital now holds a 15.54% stake in Thebe and will have board representation. The majority shareholder is the Batho Batho Trust.
The trust was set up to support the efforts of the historically disadvantaged in South Africa.
Read more at FIN24.co.za
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