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Kholo Capital and Tensai provide R275 million to support Management Buy-Out (“MBO”) of Isambane Mining

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Kholo Capital

The transaction enables the company’s management team to acquire 100% ownership of the business, strengthening operational control and positioning Isambane for its next phase of growth

JOHANNESBURG, South Africa, April 7, 2026/APO Group/ –Kholo Capital Mezzanine Debt Fund I (“Kholo Capital”) and Tensai Private Equity (“Tensai”) today announced the provision of R275 million in mezzanine debt funding to support the management buy-out (“MBO”) of Isambane Mining (“Isambane”), a leading mid-tier mining contractor in South Africa.

Isambane delivers comprehensive opencast mining services, including drilling, blasting, loading, hauling, rehabilitation and day-work services to blue-chip mining clients.

Founded in 2005, Isambane has developed into an established and reputable South African contract mining operator. The transaction enables the company’s management team to acquire 100% ownership of the business, strengthening operational control and positioning Isambane for its next phase of growth.

The R275 million mezzanine funding package comprises R200 million provided by Kholo Capital and R75 million provided by Tensai Private Equity.

The management consortium is led by Chairman Banzi Giyose, Chief Executive Officer Johan Venter and Chief Financial Officer Jorrie Jordaan and were advised by Bravura Capital.

Zaheer Cassim, Managing Partner and Founder of Kholo Capital, commented: “We are delighted to support Isambane’s accomplished and highly motivated management team in acquiring full ownership of this exceptional business. This transaction is a strong example of how structured mezzanine debt capital can enable management-led ownership transitions without unnecessary equity dilution, while providing the flexibility required to sustain growth and operational momentum. Isambane has built a high-quality, resilient platform underpinned by long-standing relationships with Tier-1 mining clients, strong cash flow generation, and a scalable operating model. The leadership team’s depth of experience—spanning more than 170 years across operations, engineering, safety and financial management—provides a solid foundation for continued execution and growth. This transaction also aligns ownership with those closest to the business, enhances black ownership and control, and positions Isambane to capitalise on opportunities in the mining services sector. We look forward to partnering with management as a long-term capital provider, supporting their strategic objectives and helping unlock further value in the business.”

We are delighted to support Isambane’s accomplished and highly motivated management team in acquiring full ownership of this exceptional business

Mokgome Mogoba, Managing Partner and Founder of Kholo Capital, added: “Isambane’s portfolio includes multi-year contracts with Tier-1 mining clients, providing strong revenue visibility. Its flexible operating model enables rapid redeployment of fleet and personnel, significantly mitigating contract and asset utilisation risk. Importantly, this transaction enhances black ownership and control in a sector that has historically lacked transformation. Isambane is now a majority black-owned and black-controlled mining services company. This transaction reflects continued investor confidence in South Africa’s mining services sector and highlights the role of structured mezzanine debt in enabling management-led ownership transitions.”

Tensai added, “Tensai is pleased to partner with Kholo Capital on this transaction. Isambane’s established position and resilient operating model make it an attractive investment, and we are proud to support an experienced leadership team while contributing to meaningful transformation within South Africa’s mining sector.”

Soria Hay of Bravura Capital observed: “Bravura is delighted to have assisted the exceptional Isambane management to achieve the 100% Management Buy-Out from the existing shareholders within less than 9 months from our initial engagement. With Isambane being a capital-intensive business, we had to navigate the legal relationships with the various senior lenders carefully to achieve this outcome. All our thanks to the Kholo Capital and Tensai teams for the spirit of cooperation and partnership that was shown along the process. They were meticulous, but helpful to address the invariable niggles that always arise during these types of transactions. We wish Isambane only the best for this new chapter in its life.”

Banzi Giyose, Chairman of Isambane, said: ““This has been a complex and rigorous process, led by highly experienced investment and legal teams, and it has been a pleasure working with parties who consistently demonstrated integrity, transparency and good faith. This collaborative approach was key to achieving a successful outcome. We are sincerely grateful to Kholo Capital and Tensai, for their diligence, as well as to all advisors for their continued support and expertise.

For Isambane, this milestone marks the beginning of an exciting new chapter—one grounded in purpose, operational excellence and sustainable value creation. We remain committed to delivering strong performance while fostering safer work environments and creating meaningful opportunities for local communities.”

Johan Venter, CEO of Isambane, concluded: “This transaction represents a transformational step for Isambane, aligning ownership with a management team deeply committed to the business and its long-term success. It strengthens our foundation for disciplined growth, anchored in our core values of faith, integrity, accountability, resilience, partnership and operational excellence. Kholo Capital brought strong credibility, commercial rigour and execution capability to the process. Their principled, solutions-driven approach and ability to navigate complexity while maintaining momentum were instrumental in achieving this outcome. We enter this next phase with confidence, guided by our values and a shared commitment to building a sustainable, high-performing business.”

Norton Rose Fullbright acted as legal counsel to Kholo Capital and ENS acted as legal counsel for Tensai.

Distributed by APO Group on behalf of Kholo Capital.

 

Business

Institute for the Management of State Assets and Holdings (IGAPE) Launches Initial Public Offering (IPO) of Angola’s Largest Telecommunications Company

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IGAPE

The transaction comprises the sale of 7,500,000 ordinary registered book-entry shares, representing 15% of UNITEL’s share capital, each with a nominal value of AOA 5,000.00

LUANDA, Angola, July 9, 2026/APO Group/ –The Institute for the Management of State Assets and Holdings (IGAPE) (https://IGAPE.MinFin.Gov.ao), acting as the selling shareholder, launched the Initial Public Offering (IPO) of a 15% stake in UNITEL, marking one of the largest capital market transactions ever undertaken in Angola.

 

The transaction comprises the sale of 7,500,000 ordinary registered book-entry shares, representing 15% of UNITEL’s share capital, each with a nominal value of AOA 5,000.00. Upon completion of the offering, all 50,000,000 shares, representing the company’s entire issued share capital, are expected to be admitted to trading on the Angola Debt and Securities Exchange (BODIVA).

The final offer price will be determined within a price range of AOA 36,036.00 to AOA 40,040.00 per share. The price will be set following the bookbuilding process, based on investor demand during the subscription period.

The IPO comprises two tranches. The Employee Offering reserves 1,000,000 shares, representing 2% of UNITEL’s share capital, for preferential subscription by eligible employees. The General Public Offering comprises 6,500,000 shares, representing 13% of the company’s share capital, together with any shares remaining unsubscribed under the Employee Offering.

The subscription period opens at 2:00 p.m. on 6 July and closes at 3:00 p.m. on 24 July 2026, allowing retail, corporate and institutional investors to participate in what is expected to be a landmark transaction for Angola’s capital market.

Investors may submit subscription orders through the participating financial intermediaries: BFA Capital Markets, Áurea SDVM, Distribuidora Valor SDVM, Eaglestone SDVM, Standard Invest SDVM and Hemera Capital Partners Securities. Orders may also be placed through Banco Caixa Geral Angola and Banco de Fomento Angola via their branch networks, digital platforms, websites, telephone banking services and email.

With more than 21 million customers and operations across all 18 provinces of Angola, UNITEL has been the country’s leading telecommunications operator for the past 25 years. The IPO provides Angolan citizens and investors with the opportunity to become shareholders in one of the country’s most established companies and to participate in its future growth while supporting the continued development of Angola’s capital market.

Distributed by APO Group on behalf of Institute for the Management of State Assets and Holdings (IGAPE).

 

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Ancient Port, New Voyages: Ningbo’s Smart Manufacturing Expands Global Trade Footprint via Maritime Silk Road

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China

COLOMBO, SRI LANKA- Media OutReach Newswire – 9 July 2026 – On July 4, 2026, the cultural exchange event Encounter & Insight: Dialogue Between Ningbo, China and Colombo, Sri Lanka took place in Colombo.

Separated by thousands of miles, the two millennia-old port cities reconnected, leveraging their ports as a bond and cultural exchanges as a cohesive force to hold in-depth talks on integrated port-city development and bilateral economic and trade connectivity.

This cross-Indian Ocean dialogue echoes the ancient Maritime Silk Road while charting a brand-new outbound development path. As a pivotal starting port of the ancient Maritime Silk Road, Ningbo is building a new global trade landscape powered by smart manufacturing.

A thousand years ago, merchant vessels from Mingzhou Port set sail southward loaded with Yue Kiln celadon porcelain, passing through Ceylon to deliver Oriental crafts across the Indian Ocean coasts. Precious gemstones and spices traveled the same sea route back to regions south of the Yangtze River, laying the groundwork for the earliest cultural exchange between the two ports through trade. Today, the cargo carried by giant cargo ships has undergone a dramatic transformation. Beyond traditional daily necessities, intelligent equipment, digital home appliances and industrial robots now dominate shipments.

Official statistics show that Ningbo’s exports of intelligent equipment, including mechanical arms and industrial robots, hit 440 million yuan in 2025, surging more than 40% year-on-year. From January to May this year, Ningbo’s exports of mechanical and electrical products maintained steady growth, reaching 247 billion yuan, a 4.1% year-on-year increase and accounting for 58.0% of the city’s total export volume. The new energy foreign trade sector saw explosive growth, with exports of new energy vehicles, lithium batteries, and photovoltaic products jumping 138.4% year-on-year, with electric vehicle exports skyrocketing 215.9%. Smart manufactured goods are continuously expanding the scope of Ningbo’s foreign trade.

Complementing the Colombo forum, an exhibition highlights Ningbo’s outstanding going-global enterprises and their products, vividly illustrating the profound shift in Ningbo’s trade structure.

Alongside time-honored Maritime Silk Road staples such as celadon porcelain and silk, Ningbo’s smart manufactured products—including AI translation glasses, intelligent outdoor gear and digital small home appliances—occupy prominent display spaces across the venue. In Sri Lanka, Ningbo smart water meters are widely adopted nationwide, while handheld cooling fans and intelligent kitchen appliances have entered ordinary households.

Leveraging Colombo Port’s transshipment advantages, massive volumes of Ningbo smart manufactured goods are distributed onward to Europe, the Middle East and beyond. What Ningbo exports today is no longer mere commodities, but a complete outbound solution integrating technology, brand value and after-sales services.

Faced with mounting challenges including homogeneous global market competition and rising trade barriers, Ningbo’s manufacturing sector has abandoned the old model of low-cost OEM production, relying on intelligent transformation to consolidate its competitive edge in overseas markets.

Over more than a decade of digital transformation efforts, Ningbo has achieved full digital upgrading of all industrial enterprises above designated size. A large number of local factories have built unmanned black-light workshops and flexible production lines, escaping vicious price competition through continuous technological iteration. Represented by five specialized, sophisticated, distinctive and innovative enterprises dubbed Ningbo’s “Five Little Tigers”—famous for their core proprietary technologies, including highly sophisticated visual inspection equipment, heat-resistant materials, sun-proof coatings, puncture-proof materials and self-drilling fasteners—these niche manufacturers have developed differentiated technical routes and full-spectrum production capacity, cementing irreplaceable competitiveness for Ningbo smart manufacturing on global markets.

Beyond trade expansion, Ningbo has built a supporting cultural communication system to ensure “products go global, accompanied by local culture”.

The launch of Sri Lanka’s first “One-Meter Cultural Space” cultural station during the Colombo event marks a tangible milestone of Ningbo’s go-global initiative. Built on enterprises’ overseas outlets, these miniature cultural exhibition halls integrate intangible cultural heritage crafts, urban stories and smart products, enabling overseas clients to experience cutting-edge manufacturing while gaining insight into Ningbo’s profound cultural heritage.

During the twin-city story-sharing session, Ningbo entrepreneurs based in Sri Lanka and local designers blending Chinese and Sri Lankan aesthetics shared stories of bilateral exchanges. Economic and trade ties have evolved into a bond for people-to-people communication, bridging divides in cross-cultural trade.

From Tang-dynasty celadon porcelain sailing across the Indian Ocean to intelligent equipment shipping to every corner of the globe, Ningbo, the ancient Maritime Silk Road port, has preserved its enduring gene of openness. Where exchanges once relied purely on commodity trade, today smart manufacturing underpins a stable, diversified and high-value-added global trade network.

The Ningbo-Colombo dialogue stands as a vivid microcosm of this transformation: the port still links lands and seas, yet the core of its trade has undergone a full intelligent upgrade.

Rooted in its historical legacy as a key Maritime Silk Road hub, Ningbo has consolidated its industrial foundation through a decade of digital development, expanded global market reach via worldwide port networks, and softened trade cooperation through cultural exchanges. This brand-new outbound shipping route forged by smart manufacturing has not only reshaped the city’s foreign trade landscape, but also delivered a replicable port-city development model for Chinese manufacturing to go global.

 

 

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CGTN: Navigating the South China Sea Before GPS

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South China Sea

BEIJING, CHINA – Media OutReach Newswire – 9 July 2026 – Ten years after the South China Sea arbitration, CGTN has published an article exploring the story of the Genglubu – a handwritten navigation manual that guided generations of Hainan fishermen long before GPS, shedding light on a chapter of South China Sea history unfamiliar to many outside the region.

How did generations of Chinese sailors find their way across the South China Sea, one of the world’s busiest and most challenging waterways?

A new CGTN documentary, Genglubu: Charting the South China Sea, explores the answer through a little-known ancient navigation manual passed down for generations of fishermen in Tanmen, Hainan Province. The Genglubu recorded routes, compass bearings and sailing distances, helping fishermen navigate reefs, islands and open seas. The documentary follows the fishermen who crossed the sea, the families who preserved their knowledge and a maritime tradition that connected China with Southeast Asia and beyond.

The People Who Brought the Genglubu to Life

To outsiders, the Genglubu looks like a secret code. A single line of just fourteen Chinese characters can contain an entire sea route: the departure point, direction, destination, distance and estimated sailing time.

“Generation after generation, Hainan fishermen rode the waves – not to rule the sea, but to make their living from it.”

Xin Lixue, Curator, China (Hainan) Museum of the South China Sea

The documentary follows veteran fishing boat captains whose lives were inseparable from the sea. Wang Shitao first went to sea at the age of nine. At twelve, his fishing boat was caught in a typhoon. Everyone else on board died. Clinging to a piece of floating timber, he drifted alone for three days. Four years later, another violent storm struck. Once again, he was the only survivor. Yet each time, he returned to the sea. Late in life, reflecting on decades spent sailing the South China Sea, he summed up his feelings:

“I love the South China Sea. I hate it. I miss it.”

Wang Shitao, fishing boat captain

The sea demanded sacrifice even as it provided a livelihood. A storm or mishap could wipe out an entire crew.

“Children and brothers should never sail on the same boat.”

Wang Shubao, fishing boat captain

A Maritime Tradition Connecting Asia

The documentary challenges the common assumption that the Genglubu was only about the South China Sea. Research on the Liang Family Genglubu reveals routes extending to Singapore, Malacca and Indonesia, showing that Hainan fishermen also played a role in regional maritime trade.

“Hainan fishermen also took part in overseas trade.”

Zhao Jueqi, China (Hainan) Museum of the South China Sea

Not every route was written in words. Some Genglubu manuscripts contain mountain-and-water charts. They combine sketches of coastlines with compass bearings, water depth and sea conditions. These drawings helped sailors identify islands, reefs and coastlines and determine their position at sea.

“The Americans and the British produced their own navigational records, which identify the Chinese as being engaged very heavily in fishing on these islands and other forms of economic activity.”

Anthony Carty, International Law Sholar

Today, satellites, weather stations and lighthouses have transformed navigation across the South China Sea. But the purpose remains the same: helping sailors travel safely and return home. Genglubu: Charting the South China Sea traces a maritime tradition shaped by generations of ordinary people. It is a story of navigation, memory and resilience, one that forms part of the shared maritime heritage of Asia.

 

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