Vunani: A nice alternative with a high yield
It plans to use cash flows from its coal interests to buy shares in renewable energy businesses
Vunani Capital Partners (VCP) is a mind-boggling story. Not too many years ago it formed part of JSE-listed financial services company Vunani. But the market went out of its way not to accord any value to the investment portfolio.
So Vunani spun off VCP. However, it opted not to list VCP on the JSE but rather on the empowerment-focused Equity Express Securities Exchange. This was probably a good move, with the JSE now applying hefty discounts to even the biggest, enduring investment companies like Remgro and Hosken Consolidated Investments (HCI) — and even bigger discounts to empowerment investment counters such as Brimstone, ARC Capital and African Equity Empowerment Investments...
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