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Harare - South African-based community investment company MOGS, a subsidiary of Royal Bafokeng Holdings, is reportedly eyeing a stake in a Zimbabwe-based bank.
According to a report by the Financial Express, MOGS singed a memorandum of understanding for investment into Trust Bank of Zimbabwe.
MOGS has reportedly offered to invest US$20m for a 100% equity stake in the bank, which is currently owned by Trust Holdings Limited.
The current shareholders of Trust Bank will be compensated by transfer of certain properties currently held by the Bank to Trust Holdings. Properties to be transferred have an estimated value of $6m.
MOGS will seek to comply with local indigenisation laws over five years.
- Fin24
According to a report by the Financial Express, MOGS singed a memorandum of understanding for investment into Trust Bank of Zimbabwe.
MOGS has reportedly offered to invest US$20m for a 100% equity stake in the bank, which is currently owned by Trust Holdings Limited.
The current shareholders of Trust Bank will be compensated by transfer of certain properties currently held by the Bank to Trust Holdings. Properties to be transferred have an estimated value of $6m.
MOGS will seek to comply with local indigenisation laws over five years.
- Fin24
