Aug 18

Ditikeni acquires 5% of Kelly Group

In a joint venture with Safika Holdings, Ditikeni has acquired 5% of Kelly Group, the listed staffing solutions company. Ditikeni is Kelly’s broad-based BEE partner. The Industrial Development Corporation provided significant funding for the transaction.

Greg Erasmus, Ditikeni’s representative on the Safika Kelly special purpose vehicle, said that “this deal is very important to Ditikeni for two reasons. It’s the first time we’ve raised money from the IDC, and the transaction replaces the Stanlib asset sold earlier this year. We’ve enhanced our capital base with a high-quality listed asset.”