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June 5, 2008

Kabo buys into Foneworx

Black empowerment investor KaboCapital has completed its R43 million buy of 30% of AltX-listed Foneworx, which has a market capitalisation of R122 million.

The deal was first announced in November and will provide FoneWorx with the capital it requires to support its expansion strategy. It will also render FoneWorx compliant with the broad-based black economic empowerment (BEE) codes of good practice.

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Posted by StaffWriter at June 5, 2008 11:10 AM