January 25, 2016

Investment holding company, Greystone Partners Ltd., which is managed by African investment banking group African Alliance, announced it has acquired a significant minority stake in Ngwane Mills, which trades under the Feedmaster name, reports the Times of Swaziland.

The investment undertaking was begun in 2014 and was completed on December 9, 2015 ,  according to the Swazi Observer, and was decided upon based on Feedmaster’s leadership position in Africa’s feed industry and its growth potential, according to African Alliance private equity executive, Peace Mabuza.

Feedmaster, which is led by Wilhelm van Nieherk, operates a fully automated feed mill in Matsapha, and has been operational for nearly 20 years, making it one of the oldest feed brands in the Swazi market. The company serves domestic markets, but also exports to South Africa.

Commenting on the deal at a press conference, Mabuza stated that through African Alliance Swaziland, Greystone is targeting long term growth through not only a commitment of capital, but a partnership of expertise and management with its companies.

“Through its representation on the Board of Directors of Feedmaster, Greystone will partner with the existing board and shareholder, in order to crate strategic guidance and leadership to the business in its next phase of growth,” said Mabuza, according to the Times of Swaziland.

During the 2015 calendar year, Greystone’s stock, which is listed on the Swaziland Stock Exchange (SSX), climbed by 29%, making it the top performing stock on the exchange.

“We have seen the company’s share price increasing by 29 percent and that is a good indicator that shareholders will get value for their money,” said Doctor Hlongwane, a representative of Greystone shareholders. “We have seen many companies investing outside the country but Greystone has made a good choice of pumping back into the economy.”