{"id":100357,"date":"2024-11-07T22:48:57","date_gmt":"2024-11-07T20:48:57","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe"},"modified":"2024-11-08T00:54:35","modified_gmt":"2024-11-07T22:54:35","slug":"mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe","title":{"rendered":"Mounting Debt Forced SA Firm To Sell 51.43% Of Nampak Zimbabwe"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Nampak Southern Africa Holdings Limited was compelled to sell its controlling stake of 51.43% in Nampak Zimbabwe as part of a strategy to reduce its substantial debt, reported Business Times<\/b>.<\/p>\n

Analysts indicated that divesting assets in markets like Zimbabwe was the only viable solution to address the company\u2019s financial issues.<\/p>\n

From 2011 to 2014, Nampak Southern Africa Holdings struggled to manage significant debt incurred from its expansion efforts in other African countries, particularly Angola and Nigeria.<\/p>\n

The company faced operational challenges in Nigeria, leading to heavy indebtedness.<\/p>\n

By March 2019, Nampak\u2019s debt had reached R7.6 billion (approximately US$432.76 million), prompting a mix of asset sales and rights offerings to mitigate the financial burden.<\/p>\n

In 2023, Nampak SA entered into refinancing agreements, which require settling R2.7 billion (around US$153.75 million) of outstanding debt by March 31, 2026, through further asset disposals.<\/p>\n

This situation led to the decision to sell a controlling stake in Nampak Zimbabwe for approximately R438 million (US$25 million).<\/p>\n

In its latest market intelligence report, research firm Morgan & Co said:<\/p>\n

The transaction is borne out of Nampak South Africa\u2019s challenges with debt for the better part of the last decade.<\/p>\n

It is on the back of this that Nampak South Africa resolved to dispose of several assets both locally and regionally in a bid to ease the weight of the debt, and the sale of Nampak Zimbabwe controlling stake to TSL is the latest disposal to make headlines.<\/p>\n

Under the deal, TSL will purchase 51.43% of Nampak Zimbabwe for a total consideration of US$25 million.<\/p>\n

TSL will have until June 2025 to settle US$23 million of the total consideration, with the remaining balance to be paid off over the subsequent two years.<\/p>\n

The relationship between TSL and Nampak Zimbabwe is not new; TSL previously held a 16.53% stake in Nampak Zimbabwe until its disposal in 2018.<\/p>\n

According to the report, TSL primarily provides ancillary services to the agriculture sector and has been operational since 1957.<\/p>\n

For More News And Analysis About Zimbabwe Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Nampak Southern Africa Holdings Limited was compelled to sell its controlling stake of 51.43% in Nampak Zimbabwe as part of a strategy to reduce its substantial debt, reported Business Times. Analysts indicated that divesting assets in markets like Zimbabwe was the only viable solution to address the company\u2019s financial issues. From 2011 […]<\/p>\n","protected":false},"author":84,"featured_media":100356,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[13783,17140,17139,19],"class_list":["post-100357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-nampak","tag-nampak-southern-africa-holdings-limited","tag-nampak-zimbabwe","tag-zimbabwe"],"yoast_head":"\nMounting Debt Forced SA Firm To Sell 51.43% Of Nampak Zimbabwe - zimbabwe<\/title>\n<meta name=\"description\" content=\"Nampak Southern Africa Holdings Limited was compelled to sell its controlling stake of 51.43% in Nampak Zimbabwe as part ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mounting Debt Forced SA Firm To Sell 51.43% Of Nampak Zimbabwe\" \/>\n<meta property=\"og:description\" content=\"Nampak Southern Africa Holdings Limited was compelled to sell its controlling stake of 51.43% in Nampak Zimbabwe as part ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-07T20:48:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-07T22:54:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/11\/sm_1731007441.948109.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"476\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mounting Debt Forced SA Firm To Sell 51.43% Of Nampak Zimbabwe\",\"datePublished\":\"2024-11-07T20:48:57+00:00\",\"dateModified\":\"2024-11-07T22:54:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe\"},\"wordCount\":340,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/11\/sm_1731007441.948109.jpg\",\"keywords\":[\"NamPak\",\"Nampak Southern Africa Holdings Limited\",\"Nampak Zimbabwe\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe\",\"name\":\"Mounting Debt Forced SA Firm To Sell 51.43% Of Nampak Zimbabwe - zimbabwe\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/11\/sm_1731007441.948109.jpg\",\"datePublished\":\"2024-11-07T20:48:57+00:00\",\"dateModified\":\"2024-11-07T22:54:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"Nampak Southern Africa Holdings Limited was compelled to sell its controlling stake of 51.43% in Nampak Zimbabwe as part ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/11\/sm_1731007441.948109.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/11\/sm_1731007441.948109.jpg\",\"width\":720,\"height\":476,\"caption\":\"Mounting Debt Forced SA Firm To Sell 51.43% Of Nampak Zimbabwe\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/zimbabwe\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mounting Debt Forced SA Firm To Sell 51.43% Of Nampak Zimbabwe\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#website\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/\",\"name\":\"zimbabwe\",\"description\":\"\u0623\u062e\u0628\u0627\u0631 \u064a\u0648\u0645\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/zimbabwe\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Mounting Debt Forced SA Firm To Sell 51.43% Of Nampak Zimbabwe - zimbabwe","description":"Nampak Southern Africa Holdings Limited was compelled to sell its controlling stake of 51.43% in Nampak Zimbabwe as part ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe","og_locale":"en_US","og_type":"article","og_title":"Mounting Debt Forced SA Firm To Sell 51.43% Of Nampak Zimbabwe","og_description":"Nampak Southern Africa Holdings Limited was compelled to sell its controlling stake of 51.43% in Nampak Zimbabwe as part ...","og_url":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe","og_site_name":"zimbabwe","article_published_time":"2024-11-07T20:48:57+00:00","article_modified_time":"2024-11-07T22:54:35+00:00","og_image":[{"width":720,"height":476,"url":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/11\/sm_1731007441.948109.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Mounting Debt Forced SA Firm To Sell 51.43% Of Nampak Zimbabwe","datePublished":"2024-11-07T20:48:57+00:00","dateModified":"2024-11-07T22:54:35+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe"},"wordCount":340,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/11\/sm_1731007441.948109.jpg","keywords":["NamPak","Nampak Southern Africa Holdings Limited","Nampak Zimbabwe","Zimbabwe"],"articleSection":["all news","Economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe","url":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe","name":"Mounting Debt Forced SA Firm To Sell 51.43% Of Nampak Zimbabwe - zimbabwe","isPartOf":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/11\/sm_1731007441.948109.jpg","datePublished":"2024-11-07T20:48:57+00:00","dateModified":"2024-11-07T22:54:35+00:00","author":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"Nampak Southern Africa Holdings Limited was compelled to sell its controlling stake of 51.43% in Nampak Zimbabwe as part ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#primaryimage","url":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/11\/sm_1731007441.948109.jpg","contentUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/11\/sm_1731007441.948109.jpg","width":720,"height":476,"caption":"Mounting Debt Forced SA Firm To Sell 51.43% Of Nampak Zimbabwe"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mounting-debt-forced-sa-firm-to-sell-51-43-of-nampak-zimbabwe#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/zimbabwe\/"},{"@type":"ListItem","position":2,"name":"Mounting Debt Forced SA Firm To Sell 51.43% Of Nampak Zimbabwe"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#website","url":"https:\/\/www.africa-press.net\/zimbabwe\/","name":"zimbabwe","description":"\u0623\u062e\u0628\u0627\u0631 \u064a\u0648\u0645\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/zimbabwe\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren"}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts\/100357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/comments?post=100357"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts\/100357\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/media\/100356"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/media?parent=100357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/categories?post=100357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/tags?post=100357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}