Aureos Southern Africa Fund has acquired 30% of Tofo Public Payphones from black economic empowerment private equity fund Community Investment Ventures.
The acquisition cost Aureos R15 million.
Tofo is a private, commercial cellular payphone company with a customer base of more than 10 000 operators, to whom it provides hardware and airtime.
It was acquired by Community Investment Ventures (CIV) last June.
Aureos is a subsidiary of Aureos Capital, a global manager of small to medium private equity funds in emerging markets.
"Tofo is playing an active role in creating jobs within the South African economy and in stimulating the growth of entrepreneurs," says Joe Madungandaba, CIV executive director and Tofo chairman.
"Aureos`s investment will help us boost our activities in SA and accelerate our expansion into sub-Saharan Africa."
Share
