South Africa: Ata Capital announces sale of 26% stake in Novare Holdings

Ata Capital is pleased to announce the successful sale of its 26% stake in Novare Holdings to the company’s management team marking a meaningful milestone in Novare’s growth and transformation journey. The transaction remains subject to regulatory approval.

“We believe services businesses thrive under owner-management,” says Lelo Rantloane, CEO of Ata Capital. “Novare’s team has shown remarkable resilience through a turbulent economic cycle, rationalising the business, building a solid platform for growth, and positioning the company for long-term success. We’re proud to have been part of their story.”

Since Ata Capital’s investment, Novare has delivered a number of achievements that reflect both strong leadership and a commitment to sustainability and excellence, including:

• Achieving Level 1 B-BBEE status
• Opening Novare Central Lusaka, the first EDGE-certified office building in Zambia
• Winning HedgeNews Africa’s Best Fund of Hedge Fund (Multi-Strategy) award
• Being recognised by the IFC as an EDGE Champion
• Becoming the first African firm to join the IFC’s GRIP greening program
• Winning ABSIP’s Best Multi-Manager or Asset Consultant of the Year in 2024

Ata Capital extends its best wishes to Novare’s leadership team as they embark on this next chapter of growth.

Ata Capital remains committed to empowerment-led transactions that drive inclusive and sustainable investment across Africa.