The recent developments come after Maseko, through his firm Afrifund Investments, made a bold bid to acquire a 35-percent stake in Telkom.
Sipho Maseko
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- Southern Africa
South African tycoon Sipho Maseko joins Shoprite board shortly after Telkom bid setback
Maseko’s appointment to the Shoprite Holdings board solidifies his position as one of South Africa’s leading business leaders.
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Last week, Maseko supported by the Public Investment Corporation, presented a bold bid to acquire a 35-percent stake in Telkom.
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Maseko secures $608 million in financing for a game-changing Telkom stake acquisition.
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Compared with the previous year’s figure, the group’s revenue grew by 3.5 percent.