Eos Capital has acquired the majority of the ordinary share capital of Avbob Namibia Holdings from the Avbob Mutual Insurance Society in South Africa.
The transaction is pending approval from the Namibian Competition Commission, Eos Capital announced in a media statement issued on Wednesday.
Through its N.dollars 460 million Allegrow Fund, Eos Capital will inject capital and provide business acumen to support the growth strategy of Avbob, Eos Capital Managing Partner Johannes !Gawaxab was quoted as saying in the statement.
“We will improve the performance and offering of Avbob, Namibianise the business and provide comfort, dignity and excellence when loved ones are celebrating life,” he said.
!Gawaxab further said it is business as usual and gave his assurance that their commitment to all stakeholders – customers, employees and society at large – is not affected.
“We have every intention to be the leading provider of funeral services in Namibia,” he said.