Zimbabwe’s social security authority takes 8.5% stake in Dairibord
By the AFREEQUE newsroom, based on Financial Gazette (Zimbabwe)
Zimbabwe’s National Social Security Authority acquired 30,434,783 shares in Dairibord, representing 8.5% of the agro-food company’s capital, from the Equivest Asset Management consortium. Its chief executive Charles Shava said the investment would generate positive returns and strengthen the institution’s ability to meet its pension obligations, reports the Financial Gazette.
The National Social Security Authority (NSSA), Zimbabwe’s public social security body, acquired an 8.5% stake in Dairibord Zimbabwe Limited, an agro-food company specialising notably in dairy products. The transaction involves 30,434,783 shares bought from the Equivest Asset Management consortium, according to the Financial Gazette.
The stake represents 8.5% of Dairibord’s 358,000,858 issued shares. NSSA chief executive Charles Shava said the investment was expected to generate positive returns and strengthen the body’s ability to meet its obligations to pensioners, according to the Financial Gazette.
