The Lebashe Investment Group welcomes the approval of its R1billion Black Economic Investment (BEE) investment into EOH which was approved by EOH shareholders at the company’s Extraordinary General Meeting today, 18 September 2018 – entrenching EOH’s market position as the largest black-owned technology group in Africa.
The shareholding acquired by Lebashe through the R1billion capital injection, along with the 40 million A shares, is a culmination of a strategic partnership that was first announced in March this year.
Reacting to the announcement, Lebashe Chairman Tshepo Mahloele said: “We welcome this exciting news and we look forward to working with the employees and all shareholders – existing and incoming – to ensure we grow the EOH status as the largest and leading black-owned IT group in Africa. EOH is an ideal company for us to partner with in terms of our aim to invest in corporations where we are able to play a role in the unlocking of deep value.”
Given the present South African economic transformation landscape, where there are very few real short-to-medium term opportunities for empowered listed companies such as EOH to unlock and uncover a wealth of investment and partnership opportunities, this transaction is a game changer and augurs well for Lebashe’s growth ambitions.