Noluthando Gosa’s Akhona Group explores stake purchase in Bidvest’s logistics division

Akhona Strategic Investments, a subsidiary of Akhona Group, a 100-percent Black women-owned investment holding company controlled by South African businesswoman Noluthando Gosa, is set to acquire a 27.5-percent stake in Bidvest International Logistics from Bidfreight.

Akona Group’s strategic move to become a shareholder in Bidvest International Logistics aligns with its strong commitment to the South African logistics sector. This step is anticipated to make a substantial contribution to the nation’s economic development.

Gosa, a former investment banker and the driving force behind Akhona Group, is orchestrating the acceleration of the transaction’s completion by securing funding from African Bank and Greenpoint Capital.

Sharing her insights on the impending deal, Gosa, the visionary businesswoman steering the ship, remarked, “This transaction aligns with our strategy to invest in pivotal sectors such as logistics, which form the backbone of our economy, and support management teams capable of navigating economic fluctuations.”

Renowned as one of South Africa’s wealthiest individuals, Gosa underscored the existing challenges in the country’s logistics landscape, citing revenue declines in sectors like mining heavily reliant on logistics for product transportation.

Highlighting the significance of investing in this sector, Gosa acknowledged Bidvest International Logistics’ global presence, operating in 120 countries in collaboration with partner EMO Trans, and reporting revenues exceeding R8 billion ($418 million) in the previous fiscal year.

Established in 2003 by Gosa, Akhona Group initially operated as a subsidiary of Akhona Properties (Pty) Ltd., managing portfolios for notable entities like PIC, Pareto, JDI, and Investec Properties before its acquisition by Broll Property Group.

Distinguished as one of the few black-owned property management firms in South Africa, Akhona Group holds the unique distinction of being the sole black woman-owned and managed property management company in the nation. The acquisition of a significant stake in Bidvest International Logistics mirrors a strategic step for Akhona Group, aligning with Gosa’s vision to invest in sectors pivotal to the nation’s economic foundation.

Gosa, a respected leader and non-executive independent director at ArcelorMittal South Africa, derives the majority of her wealth from a diversified investment portfolio. Beyond her directorship at the steelmaker, Gosa serves on the boards of Mobile Telephone Networks Holdings, the Institute of Directors, and the Businesswomen’s Association.