South Africa: Sexwale Overhauls Mvela's Structure

Johannesburg — BUSINESSMAN Tokyo Sexwale yesterday overhauled the structure of his corporate empire in a R1,5bn deal that consolidated control of his empowerment investments under Mvelaphanda (Mvela) Holdings.

Sexwale's unlisted company, Mvela Holdings, laid the platform for the revamp by disclosing yesterday that it had bought 30% of Mvela Resources, which immediately ensured Mvela Resources exceeds the 2014 mining charter target of 26% black control.

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