AFGRI Group Holdings has acquired the South African Bank of Athens Limited (SABA) to expand their financial services to the agricultural industry. SABA will officially be taken over on 4 October 2018 by GroCapital Holdings, a division of AFGRI Group Holdings.
At a press release held on 18 September 2018 at the Hyatt Regency in Rosebank, Johannesburg, Chris Venter, CEO of AFGRI Group Holdings said that the company wanted to position itself in such a way that will allow them to support agricultural producers with additional financial services that will be customised to suit the needs of commercial and small holder farmers.
GroCapital Holdings shareholders will include AFGRI Group Holdings, Fairfax Africa Holdings Corporation (Fairfax Africa) and the Government Employee Pension Fund, represented by the Public Investment Corporation (PIC).
For more information see the full press release here. –Ursula Human, AgriOrbit