investments

Eyethu Nedbank Corporate Client Scheme

The Group is a partner of Nedbank through its participation in the Eyethu Nedbank Corporate Client Scheme, in terms of which a broad range of black stakeholders acquired direct ownership worth 11.5% of the value of Nedcor’s South African businesses.

As a strategic and dynamic black business partner, LA Group Ltd was selected to participate in the Scheme, which aims to support and benefit key black entrepreneurs and allow Nedcor to strengthen existing client relationships and to access new business opportunities.

ECN Telecommunications (Pty) Ltd

The Group, through LA Group Investments, has acquired a 34% equity interest in ECN Telecommunications (Pty) Ltd, a licensed voice and data services provider. ECN is a tier 2 telecommunications operator in the fixed line market and currently operates voice solutions in the corporate and residential markets and aims to enter the retail market as soon as this is facilitated by ICASA.