Botswana’s Competition and Consumer Authority (CCA) has greenlit the acquisition of AfriSam by West International New Building Materials. The approval includes specific conditions aimed at safeguarding local investment and participation within the country.
Shifting Ownership
West International New Building Materials now holds a 100% stake in AfriSam and its various subsidiaries, which include its Botswana operations. This landmark deal transfers control of AfriSam to a Singapore-based entity. This entity has ties to West China Cement, a company listed on the Hong Kong stock exchange.
Conditions for Local Benefit
The CCA’s decision emphasizes the importance of maintaining and fostering local economic engagement. While the full details of these conditions were not immediately disclosed, they are designed to ensure the acquisition positively contributes to Botswana’s economy and business landscape. This approach highlights the regulator’s commitment to balancing foreign investment with domestic interests.
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