Nedbank Capital has concluded a private equity transaction with GloCell, for a 32,9% stake in the telecommunications business.<\/p>\n
Nedbank Capital is the investment banking business of the Nedbank Group.<\/p>\n
Established in 2001, GloCell is a R5 billion a year independent cellular telecommunication business which distributes prepaid airtime and connects in excess of 4 million cellular subscribers on an annual basis.<\/p>\n
The company serves all SA network operators through its 8,000 channel partners consisting of retailers, dealers, wholesalers and through its subsidiary Jabba Mobile which distributes product through field agents.<\/p>\n
Clive Howell, head of private equity for Nedbank Capital, said: \u201cOur dealings with GloCell have proven that this innovative cellular business more than demonstrates these characteristics.\u201d<\/p>\n
\u201cNedbank Capital believes that GloCell is well positioned as a leading player in an industry that has real growth potential, and we anticipate that our investment in the business will serve as a catalyst for its future growth.”<\/p>\n
\u201cFor the GloCell Group, the finalisation of this private equity deal represents an endorsement of what has already been a long-term relationship with Nedbank Capital,\u201d said GloCell CEO, Alessandro Mariola.<\/p>\n
\u201cWe look forward to both investing this capital injection to leverage strategic advantage and maximising Nedbank\u2019s equity position in our business for mutual strategic and bottom-line benefits.\u201d<\/p>\n
Nedbank pilots mobile payments app<\/strong><\/a><\/p>\n Nedbank Capital has concluded a private equity transaction with SA cellular airtime reseller GloCell, for a 32,9% stake in the telecommunications business.<\/p>\n","protected":false},"author":10,"featured_media":7089,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[9480,26,7923],"class_list":["post-79520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-glocell","tag-headline","tag-nedbank-capital"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/79520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=79520"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/79520\/revisions"}],"predecessor-version":[{"id":79534,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/79520\/revisions\/79534"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/7089"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=79520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=79520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=79520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Nedbank introduces online token security system<\/strong><\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"