Afinitas debuts on the BSE

SHARE   |   Monday, 27 July 2015   |   By Staff Writer
Afinitas Chairman Lesang Magang and Botswana Stock Exchange CEO, Hiran Mendis beating the drums as to portray a sign of unveiling Afinitas Limited in the listing of Botswana Stock Exchange Afinitas Chairman Lesang Magang and Botswana Stock Exchange CEO, Hiran Mendis beating the drums as to portray a sign of unveiling Afinitas Limited in the listing of Botswana Stock Exchange

 

Afinitas Limited finally listed on the Botswana Stock Exchange on Monday following a successful Initial Public Offering (IPO) which, according to the Executive Director Leutlwetse Tumelo, surpassed the expectations.
Afinitas issued 213,946,250 shares at 100 Thebe each on the Venture capital Markets (VCM).  Tumelo said that the intention was to achieve a shareholder spread of 75 which is mandatory to BSE listing but they achieved more than as in total the company secured 275 shareholders.
Afinitas chairman, Lesang Magang, said they have targeted the Sub Saharan African markets to make their investments in once they have identified opportunities for investments. He said that many foreign companies have been making investments in Botswana while Botswana companies have not been doing the same, and Afinitas is here to fill that gap.
Afinitas intends to establish businesses in the financial services sector, including but not exclusively insurance companies, leasing companies, fund management companies and lending institutions.
So far Afinitas management has remained silent on the markets they intend to invest in, choosing to say they will announce once the time has arrived. However Tumelo said such investments will be made outside the country and only repatriate the profits to Botswana.
It has been announced that Afinitas will only focus on companies that are cash generation, do not require frequent cash injection and have the ability to benefit from economies of scale within the chosen country or sector.



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