PSG eschews offshore assets
Group chairman says focus on SA offers competitive advantages, familiarity and sound relationships
PSG Group chairman Jannie Mouton has played down the chances of the adventurous Stellenbosch-based investment company tilting aggressively at offshore acquisitions. Many JSE-listed companies have invested substantially offshore as a hedge against the sluggish local economy and political risks that continue to affect the rand exchange rate. However, PSG is almost exclusively South African-focused with its main investments being Capitec Bank, private education group Curro Holdings, agribusiness investor Zeder (which holds a major stake in Pioneer Foods) and wealth manager PSG Konsult as well as smaller investments. In his letter to shareholders in the recent PSG annual report, Mouton said international expansion had been a heavily debated subject given SA’s economic and political climate. But PSG held significant competitive advantages in SA. "We are born-and-bred South Africans and understand the fundamentals of the country from a political, economic and cultural perspective." PSG, h...
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