12 °c
London
Friday, September 29, 2023
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Two new African acquisitions give Mara Delta solid footing

FurtherAfrica by FurtherAfrica
April 25, 2017
in Africa, Banking, Economy, FDI, Finance, Infrastructure, M&A, Mauritius, Mozambique, Real Estate, Retail
Reading Time: 1 min read
0 0
0
Two new African acquisitions give Mara Delta solid footing

Key acquisitions in Mauritius and Mozambique lift the pan-African property income fund

Pan-African property income fund Mara Delta has enjoyed a strong nine months to March, completing key acquisitions in Mauritius and Mozambique.

On Friday, its management team highlighted that, during this period, the group raised capital of $34.3m through the issue of 21,870,592 shares at an average price of $1.57 per share.

The proceeds of these issuances were used to fund the purchase of the LUX Tamassa Resort, a 214-room hotel in Bel Ombre, Mauritius.

The property was transferred on March 30 for a consideration of the euro equivalent of $40m.

The group also acquired a 100% interest in Mall de Tete, an 11,571m² shopping centre in Tete, Mozambique, which transferred on March 1 for a purchase price of $24.2m with additional security of a three-year net operating income guarantee from the seller.

Mara Delta’s net asset value per share decreased from 163.27c per share on June 30 2016 to 158.77c per share on March 31 2017.

The $4.4m positive increase in valuations of the assets in Mozambique and Mauritius was offset by exchange differences in the value of the company’s Anfa Place Shopping Centre in Morocco. The mall’s value fell $2.4m.

This movement was related to the euro’s decline versus the dollar and its effect on the Moroccan dirham.

CEO Bronwyn Corbett said she was confident that forecasted distribution growth of 2% to 4% on the previous year’s full-year distribution would be achieved.

“This confidence is supported by Mara Delta’s portfolio, which is proving to be resilient during macroeconomic challenges in markets like Mozambique due to the strength of its underlying tenant base,” she said.

Source: BusinessLive

Related

Tags: Anfa Place Shopping CentreBel OmbreBronwyn CorbettLUX Tamassa ResortMall de TeteMara DeltaMauritiusMoroccoMozambiqueproperty income fundTeteモザンビーク莫桑比克
FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Mining

Chinese co starts of heavy sands mining in Mozambique

by 360 Mozambique
September 29, 2023
The Forbes Billionaires’ list: Africa’s richest people 2022
Private Equity

European Bank for Reconstruction and Development backs MC IV Fund

by Africa Global Funds
September 29, 2023
Finance

UBS near settlement in Credit Suisse US$1.5B Mozambique tuna bond

by FurtherAfrica
September 29, 2023
Gender

Empower women and youth in the digital agriculture era

by Farmers Review Africa
September 29, 2023
Airline

African airlines to meet in Angola

by FurtherAfrica
September 29, 2023
Mozambique eVisa
 
MozParks

Translate this page

Read the Latest

Mining

Chinese co starts of heavy sands mining in Mozambique

by 360 Mozambique
September 29, 2023
0

The Chinese mining company, TZM Resources, will start mining heavy mineral sands in the Pebane district, in Zambezia province, in...

Read more
The Forbes Billionaires’ list: Africa’s richest people 2022

European Bank for Reconstruction and Development backs MC IV Fund

September 29, 2023

UBS near settlement in Credit Suisse US$1.5B Mozambique tuna bond

September 29, 2023

Empower women and youth in the digital agriculture era

September 29, 2023

African airlines to meet in Angola

September 29, 2023

FurtherAfrica Partners Network

The Exchange Farmers Review Africa 360 Mozambique
TechGist Africa Energy Capital & Power Club of Mozambique
Taarifa Rwanda Web3Africa See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
O Económico Digilogic Africa  

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 107.3K other subscribers
FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?