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Metrofile announces expansion into Botswana

Mark McGowan, Chief Financial Officer of JSE-listed Metrofile Holdings Limited

JSE-listed Metrofile Holdings Limited today announced the acquisition of Document Bank Botswana (Pty) Ltd. (Document Bank), is a leading information storage, protection and retrieval organisation. This acquisition allows Metrofile to further implement its strategy of acquiring bolt-on acquisitions in areas believed to offer medium to long-term growth opportunities.
 
This is according to Mark McGowan, Chief Financial Officer of JSE-listed Metrofile Holdings Limited, who says that the acquisition in this region ticks off the next step in the organization’s overarching Africa expansion strategy. “As a leading company operating in the records and information management sector, which applies world-class systems and controls to guarantee maximum efficiency, Document Bank is an ideal partner for Metrofile.”
 
The acquisition combines the best of both worlds for existing and future clients by pairing Document Bank, a regional leader that understands the information and records management needs specific to the local market, with Metrofile’s international expertise, product range and economies of scale, says McGowan.
 
Trevor Swanepoel, Managing Director of Document Bank says that the organisation’s product and service offering will still include its existing services such as document storage and management, confidential destruction, a Tidy Files filing solution, document imaging, system design, data storage, disaster recovery and remote back-up facilities. “As a member of Metrofile, Document Bank’s services will also expand to include all Metrofile services such as software management, paper recycling and business continuity services to provide existing and new customers with a holistic solution.”
 
The day to day operations of the company will continue to be run by the current Document Bank management team which has extensive experience in the records and information management industry, he says. “The company's overall strategy will be determined and controlled by the Board of Directors, comprised of both Metrofile and Document Bank leadership. Document Bank will now trade in the market under the name Document Bank – A Metrofile Group Company.”
 
“We are confident that this acquisition will enable Metrofile to benefit from Document Bank’s impressive track record, extensive customer base, local knowledge and understanding of the particulars of the regional market, making this endeavour mutually beneficial for stakeholders and clients,” concludes McGowan.
 
Metrofile Holdings Limited has been listed on the JSE limited (“JSE”) since 1995 and its ordinary shares are quoted in the “Support Services” sector of the JSE. Metrofile is a black-owned Company with black ownership amounting to 52,8%. Its largest shareholder is its empowerment partner, Mineworkers Investment Company (“MIC”) which owns 34,41% of Metrofile’s equity.
 
Its services include Records Storage and Management, Image Processing, Backup Storage and Management, Records management Software and Records Management Consultancy, Business Continuity and IT Continuity, File Plan Development, Confidential Records Destruction, Paper Recycling as well the sale and maintenance of a wide range of business equipment, including scanners, library security systems, mailing and packaging machines.

The Metrofile Records Management division is the market leader in both physical and digital information and records management in Africa and is represented in the six major provinces of South Africa, Mozambique, Nigeria, Zambia and United Arab Emirates. It operates from 44 facilities, at 21 locations, covering more than 83 800 square metres of warehousing and office space. In accordance with its owner/lessee model, 66,5% of these facilities are owned by the Group. The rest of the Group’s divisions lease their premises.
 
The CSX Customer Services brand has contracts in numerous other African countries.

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Jewellery manufacturing plant to create over 100 jobs

30th January 2023

The state of the art jewellery manufacturing plant that has been set up by international diamond and cutting company, KGK Diamonds Botswana will create over 100 jobs, of which 89 percent will be localized.

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Investors inject capital into Tsodilo Resources Company

25th January 2023

Local diamond and metal exploration company Tsodilo Resources Limited has negotiated a non-brokered private placement of 2,200, 914 units of the company at a price per unit of 0.20 US Dollars, which will provide gross proceeds to the company in the amount of C$440, 188. 20.

According to a statement from the group, proceeds from the private placement will be used for the betterment of the Xaudum iron formation project in Botswana and general corporate purposes.

The statement says every unit of the company will consist of a common share in the capital of the company and one Common Share purchase warrant of the company.

Each warrant will enable a holder to make a single purchase for the period of 24 months at an amount of $0.20. As per regularity requirements, the group indicates that the common shares and warrants will be subject to a four month plus a day hold period from date of closure.

Tsodilo is exempt from the formal valuation and minority shareholder approval requirements. This is for the reason that the fair market value of the private placement, insofar as it involves the director, is not more than 25% of the company’s market capitalization.

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Bosoto Limited and Gcwihaba Resources projects in Botswana.  The company has a 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana.

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Global CEOs Back Plan to Unlock $3.4 Trillion Potential of Africa Free Trade Area

23rd January 2023

African heads of state and global CEOs at the World Economic Forum Annual Meeting backed the launch of the first of its kind report on how public-private partnerships can support the implementation of the African Continental Free Trade Area (AfCFTA).

AfCFTA: A New Era for Global Business and Investment in Africa outlines high-potential sectors, initiatives to support business and investment, operational tools to facilitate the AfCFTA, and illustrative examples from successful businesses in Africa to guide businesses in entering and expanding in this area.

The report aims to provide a pathway for global businesses and investors to understand the biggest trends, opportunities and strategies to successfully invest and achieve high returns in Africa, developing local, sub-regional and continental value chains and accelerating industrialization, all of which go hand in hand with the success of the AfCFTA.

The AfCFTA is the largest free trade area in the world, by area and number of participating countries. Once fully implemented, it will be the fifth-largest economy in the world, with the potential to have a combined GDP of more than $3.4 trillion. Conceived in 2018, it now has 54 national economies in Africa, could attract billions in foreign investment, and boost overseas exports by a third, double intra-continental trade, raise incomes by 8% and lift 50 million people out of poverty.

To ease the pain of transition to its new single market, Africa has learned from trade liberalization in North America and Europe. “Our wide range of partners and experience can help anticipate and mitigate potential disruptions in business and production dynamics,” said Børge Brende, President, and World Economic Forum. “The Forum’s initiatives will help to ease physical, capital and digital flows in Africa through stakeholder collaboration, private-public collaboration and information-sharing.”

Given the continent’s historically low foreign direct investment relative to other regions, the report highlights the sense of excitement as the AfCFTA lowers or removes barriers to trade and competitiveness. “The promising gains from an integrated African market should be a signal to investors around the world that the continent is ripe for business creation, integration and expansion,” said Chido Munyati, Head of Regional Agenda, Africa, World Economic Forum.

The report focuses on four key sectors that have a combined worth of $130 billion and represent high-potential opportunities for companies looking to invest in Africa: automotive; agriculture and agroprocessing; pharmaceuticals; and transport and logistics.

“Macro trends in the four key sectors and across Africa’s growth potential reveal tremendous opportunities for business expansion as population, income and connectivity are on the rise,” said Wamkele Mene, Secretary-General, AfCFTA Secretariat.

“These projections reveal an unprecedented opportunity for local and global businesses to invest in African countries and play a vital role in the development of crucial local and regional value chains on the continent,” said Landry Signé, Executive Director and Professor, Thunderbird School of Global Management and Co-Chair, World Economic Forum Regional Action Group for Africa.

The Forum is actively working towards implementing trade and investment tools through initiatives, such as Friends of the Africa Continental Free Trade Area, to align with the negotiation process of the AfCFTA. It identifies areas where public-private collaboration can help reduce barriers and facilitate investment from international firms.

About the World Economic Forum Annual Meeting 2023

The World Economic Forum Annual Meeting 2023 convenes the world’s foremost leaders under the theme, Cooperation in a Fragmented World. It calls on world leaders to address immediate economic, energy and food crises while laying the groundwork for a more sustainable, resilient world. For further information,

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