Ntsimbintle Holdings, led by businessman Saki Macozoma, will distribute the proceeds from the R11bn sale of its manganese business to shareholders, having decided against pursuing acquisitions to grow the business. The decision will boost its largest shareholder’s community development programmes.
The business was sold to Exxaro.
“We are going to declare dividends because we believe empowerment is about creating value, and that value must be in the hands of owners, who must then decide what they want to do with it,” Macozoma said.
Read more.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.