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.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now