South African company buys Accra Mall
7/3/2012 2:26:46 PM -
A South African Commercial and Retail Developer, Atterbury has in partnership with Sanlam, an Insurance Company acquired about 85% of Shareholding in Accra Mall, which is Ghana's first A-Grade shopping centre.
The remaining 15% of the shares is being held by the late family of Joseph Owusu-Akyaw, founder of the Accra Mall.
The purchase according to the new owners was part of their policy to expand their operations to other African countries. This was contained in an article published by the PRETORIA NEWS.
The publication also added that, the new company intends to embark on expansion works in the Mall and this will be done in partnership with the Social Security and National Insurance Trust of Ghana (SSNIT).
Atterbury other businesses include among others, a mixed-use hotel, retail and office development in Lusaka, Zambia. They have businesses in Mauritius and other African countries as well.
According to the Managing Director of Atterbury Property Development, 'Our purchase of the lead stake in the Accra Mall meets our investment criteria and furthers Atterbury's goals of providing excellent total returns to investors. It also helps achieve a healthy measure of international geographic diversification in our portfolio'.