Breaking News

Vunani buys Purpose Asset Management

by Business reporter
27 February 2013 | 4071 Views
Financial services group Vunani is positioning itself to spread its operations across the southern African continent, a message that came through an acquisition in Zimbabwe.

The JSE-listed Vunani announced yesterday that it had acquired a Harare-based entity called Purpose Asset Management for an undisclosed sum to be settled in cash.

"Even taking into account the political risk, Zimbabwe remains a good investment opportunity which will provide a platform for our expansion further into southern Africa," Vunani CEO Ethan Dube said.

"We are very excited about the opportunities this acquisition represents. Vunani has been providing advisory services in Zimbabwe for some time, but now we are able to emulate the full gambit of our diversified financial services business in this country."

Purpose Asset Management will change its name to Purpose Vunani Asset Management upon completion of the transaction. The company provides asset management services to both institutional clients and high net-worth individuals.

Vunani said the transaction had been approved by the Exchange Control department of the South African Reserve Bank and is subject to further conditions. Vunani will have the option to purchase a further stake in order to achieve a shareholding of 55% in Purpose Asset Management, subject to regulatory approvals.




"We are confident that the investment in Purpose Asset Management will be value adding and provide great exposure to Zimbabwe's developing market which has shown increased growth potential in past the couple of years," Dube said.

Vunani has exposure in a variety of sub sectors in South Africa. These include asset management, investment banking and advisory, securities broking and property investments and developments. The group also houses an investment holding entity.

Vunani Asset Management

Source: newage

Is Itai Dzamara eyeing the US Green Card?

Yes
21.18%
No
73.09%
Not sure
5.73%
576

Comments

News Updates

Email:

Latest News

Mr Casper Sibanda a liberation hero and a hero of our time - On the 2n...

by Thulani Nkala | 03 June 2015 | 331 Views

Mujuru admission of Zanu PF 'failure' confirms the self-destruct gene ...

by Wilbert Mukori | 03 June 2015 | 1169 Views

ZBC offers airtime to 11 political parties ahead of polls - The state...

by Staff Reporter | 03 June 2015 | 1155 Views

Dr Grace Mugabe calls on Zanu-PF members to desist from factionalism

by Staff Reporter | 03 June 2015 | 1703 Views

ZAPU Youths Angry over threats and harassment of Vendors - ZAPU Bulawa...

by Iphithule Maphosa | 03 June 2015 | 1775 Views

NCA shocked over Army directive on vendors - The National Constitution...

by Stephen Jakes | 03 June 2015 | 1855 Views

BCC admits pothole problem, engages residents

by Thobekile Zhou | 03 June 2015 | 1408 Views

Gwanda install pre-piad water meters - GWANDA Municipality is seeking ...

by Staff Reporter | 03 June 2015 | 1136 Views

Luveve - Cowdray Park residents wants Bulawayo council dissolved over ...

by Stephen Jakes | 03 June 2015 | 2095 Views

Land audit a mandatory requirement - The call by the Government to re...

by Suitable Kajau | 03 June 2015 | 1098 Views

BCC warms up to Intwasa Arts Festival - Bulawayo City Council has gran...

by Thobekile Zhou | 03 June 2015 | 802 Views

ZEC order BCC to provide staff for by-elections - The Zimbabwe Electo...

by Thobekile Zhou | 03 June 2015 | 1681 Views

Meikles Limited workers in Bulawayo protest

by Thobekile Zhou | 03 June 2015 | 2648 Views

Crime drops in Harare's CBD

by Thobekile Zhou | 03 June 2015 | 1067 Views

Mphoko to officiate at football tourney, teams not yet known - Vice-Pr...

by Thobekile Zhou | 03 June 2015 | 1892 Views

Free WiFi for Africa - After Alan Knott-Craig Jr left Mxit in 2012, th...

by Staff reporter | 03 June 2015 | 2515 Views

Arrested Zanu-PF chairman attempts suicide by taking rat poison - Zanu...

by Tendai Rupapa | 03 June 2015 | 4676 Views

Woman smears faeces on targets, offers to help clean up the mess - In ...

by Fungai Jachi | 03 June 2015 | 3457 Views

Prophet Magaya defends gospreneurship - Prophetic Healing and Delivera...

by Lovemore Mataire | 03 June 2015 | 2395 Views

Vendors divided over Govt directive

by Thobekile Zhou | 03 June 2015 | 2367 Views

All set for Bosso bus delivery

by Staff reporter | 03 June 2015 | 2717 Views

Zanu-PF dismiss Mujuru statement as 'self-serving and hypocritical' - ...

by Farirai Machivenyika | 03 June 2015 | 2555 Views

Zimbabwean man up for SA murder - A 27 YEAR-OLD Zimbabwean man based i...

by Staff reporter | 03 June 2015 | 2045 Views

Botswana MPs fume over ill-treatment of Zimbabweans - GABORONE - Botsw...

by Staff reporter | 03 June 2015 | 3916 Views

Tsvangirai accuse bigwigs of trying to destabilise MDC-T - OPPOSITION ...

by Staff reporter | 03 June 2015 | 1813 Views

Prices in Bulawayo higher than Harare - ZHRC

by Thobekile Zhou | 03 June 2015 | 2413 Views

MDC Renewal Team suspends Mangoma

by Staff reporter | 03 June 2015 | 1968 Views

Zim jobless turn to solar, music piracy! - An unemployed Zimbabwean ba...

by Stephen Jakes | 03 June 2015 | 1974 Views

Temba Mliswa arrested

by Staff reporter | 03 June 2015 | 3551 Views

Entertainment

Xenophobia by Busi Mhlanga - Music Video

by Staff Reporter | 03 June 2015 | 1307 Views

Zim afro-jazz artist robbed by Zimbabweans in SA - LOCAL Afro-jazz se...

by Staff reporter | 02 June 2015 | 3609 Views

Caps United defender ventures into music - Caps United defender Hardl...

by Tawanda Marwizi | 02 June 2015 | 2682 Views

DJ Sbu lied again, landlord now selling his house - Controversial Sou...

by Sunday World | 01 June 2015 | 3655 Views

ZiFM caught in royalties storm - THE Zimbabwe Music Rights Associati...

by Thobekile Zhou | 29 May 2015 | 3598 Views

Bev takes raunchy dance to UK - RAUNCHY pole dancer - Beverly Sibanda...

by Thobekile Zhou | 29 May 2015 | 4153 Views

Ex-Generations actress was once involved in an adulterous affair with ...

by Staff reporter | 26 May 2015 | 9672 Views
iBlog

The Zero-day Vulnerability Cve-2014-4114 Impacting All Versions Of Microsoft Windows

new microsoft windows zero-day vulnerability - cve-2014-4114on tuesday, october 14, 2014, isight partners - in close collaboration with microsoft - announced the discovery of a zero-day vulnerability impacting all supported versions of microsoft win... Read More
SecNews 16 October 2014 ago

Is Pregnancy Putting Your Sexual Life On Pause?

it is often believed that once you become pregnant there is no way that you can have sexual intercourse until that baby is born, which results in placing a strong hold on different couples sex lives. in this article we are going to focus on how yo... Read More
adoniadennis 08 December 2014 ago