Safari is being courted again, and shouldn’t be coy
Heriot Reit has been buying shares in the property group — and the synergies are obvious
Safari Investments, the owner of malls in small towns and semi-urban areas, especially serving lower-income consumers mostly in and around Tshwane, looks primed for a takeover after a number of failed bids from suitors last year. A weak economy and risk-off selling amid the Covid-19 pandemic has left Safari vulnerable.
The question now is whether Safari’s board will entertain any offers, given that its longer-standing members, some of them founders with related party structures in place, have been resistant to change. In the interests of its shareholders, it really should.