Quick reads for this week
GEPF represented by the PIC intends to acquire SAHL Investment Holdings
The Competition Tribunal has announced that it has unconditionally approved the merger whereby the Government Employees Pension Fund (GEPF), represented by the Public Investment Corporation (PIC), intends to acquire shareholding in SAHL Investment Holdings (SAHLIH).
The GEPF is statutorily mandated to manage and administer pensions and other benefits for South African government employees. It makes targeted investments across various asset classes including cash and money markets, domestic bonds, domestic property, domestic equity, African equity, excluding South Africa, foreign bonds and foreign equity. The PIC is controlled by the government and acts as an asset management and investment company for various government entities including the GEPF.
SAHLIH wholly owns SAHL Insurance Company Ltd; SAHL Life Assurance Company Ltd; SA Home Loans; and SAHL Office Park. In addition, SAHLIH controls The Mortgage Protection Company; Multinet Property Partners; and RCS Home Loans Joint Venture. The firms controlled by SAHLIH are involved in the provision of home loans and related activities.
MTN invests R14 million to equip unemployed young South Africans with marketable digital skills
THE MTN Foundation announced that it invested R14 million to equip 900 unemployed young South Africans with marketable digital skills, in a bid to help secure South Africa’s place in an increasingly digital global economy.
MTN SA Foundation said the 2024 Digital Skills for Digital Jobs programme, will offer 100 selected, unemployed candidates from each of the nine provinces the opportunity to participate in the 12-month accredited programme.
MTN Foundation GM Arthur Mukhuvha said: “Digital literacy and skills are rapidly becoming regarded as fundamental skills in the workplace. This need is reflected by the Foundation receiving 1737 applications nationwide in 2023 for the Digital Skills for Digital Jobs programme. Of these applicants, 900 - 100 from each province - were selected. Of this intake, 674 completed the programme and more than 60% of the graduates were women".
Competition Tribunal approves CFAO Healthcare Société Anonyme and Opella Healthcare South Africa merger
The Competition Tribunal announced that it has unconditionally approved the merger whereby CFAO Healthcare Société Anonyme intends to acquire Opella Healthcare South Africa.
CFAO Healthcare, a French-based company, is a pharmaceutical logistics company supplying wholesaler-distributors in various countries with various pharmaceutical and healthcare products.
It is also licensed to manufacture medicines for a number of companies, through its subsidiaries. CFAO Healthcare neither has any activities in South Africa nor does it distribute any products locally. The activities of the CFAO Group in South Africa include the retailing of new and used vehicles and trucks, vehicle servicing, car rental services, and supply chain and logistics management.
Opella Healthcare, incorporated in South Africa, is primarily engaged in the distribution of consumer healthcare products. It is the exclusive wholesale distributor of Sanofi Group’s CHC products and healthcare solutions. These comprise the Sanofi Group's main over-the-counter medication categories including allergy, cough and cold, pain care, digestive health, and nutritional products. Opella Healthcare does not distribute products of other firms in South Africa or elsewhere.
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