RISK DIVERSIFICATION
Sub-Saharan conglomerate Moti considers $500m disposal
London — Sub-Saharan conglomerate Moti Group is considering selling a $500m stake in the group, that spans chrome-ore mining to aviation. Moti chairman Zunaid Moti said he would be willing to sell as much as 25% of the closely-held company to the right partner, but ruled out any initial public offering. "At some stage we would look to partly monetise," Moti said. "I want to take some money off the table and put it into other things. Now might be a good time." The Johannesburg-based company also offers security and transport services and has increased its exposure to Zimbabwe since former president Robert Mugabe was removed in 2017. His replacement, Emmerson Mnangagwa, has said the country is "open for business" and that he would ease local ownership rules and re-engage lenders such as the IMF. Moti said earlier in 2018 that his company planned to spend $250m in the country over the next four years. "We would like to attract a high net worth who has a vision," said Moti, who would al...
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