Mvela lifts stake in Absa

October 3, 2005

BEE investment company Mvelaphanda Group is to lift its stake in banking group Absa to 4.47 percent, it announced on Wednesday...

Mvelaphanda said it would acquire a further effective 2.47 percent of Absa after reaching an agreement to lift its stake in BEE group Batho Bonke by 24.7 percent to 44.7 percent. Batho Bonke owns 10 percent of Absa, which is controlled by British banking group Barclays.

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