28 Oct 2025

Citizen owned Africa Lighthouse Capital is to exit its minority stake in Minet Mauritius, a company which owns Kanu Equipment, following the latter company’s merger with Bima Holdings.

A notice from the Competition Authority notes that Africa Lighthouse (AFLCFI) was the minority shareholder in the company (representing local pension funds), adding however it will ensure that the approval of the proposed transaction enhances citizen empowerment and thus safeguard the stake held by ALCFI for localisation.

Bima Holdings (registered in Mauritius) through this transaction, acquired the shareholding in the subsidiaries of Minet Mauritius including Minet Botswana.

Kanu Equipment offers heavy plant equipment for the earthmoving, quarrying, mining and construction industries. It has sales offices and warehouses in Gaborone and Francistown.

Africa Lighthouse Capital founder and CEO, Mr Bame Pule said, “We are proud of our successful imminent exit from Minet, which marks historic milestone as Botswana’s first private equity exit. It demonstrates the value chain creation potential of well-structured partnerships and disciplined investment strategies. We are proud to have supported Minet’s growth journey and to have delivered strong outcomes for our investors.”

He further said the exit was still subject to Non-Bank Financial Institutions Regulatory Authority. ENDS