South Africa’s Ata Capital has announced the successful sale of its 26% stake in Novare Holdings to the company’s management team—a significant step in Novare’s ongoing transformation and growth strategy. The transaction is subject to regulatory approval.
Lelo Rantloane, CEO of Ata Capital, commented:
We believe services businesses thrive under owner-management. Novare’s leadership has demonstrated exceptional resilience through a challenging economic cycle—streamlining operations, building a strong foundation for growth, and positioning the company for long-term success. We’re proud to have been part of their journey.
Since Ata Capital’s investment, Novare has achieved several notable milestones that underscore its commitment to sustainability, innovation, and excellence:
- Level 1 B-BBEE certification, reinforcing its empowerment credentials
- Opening Novare Central Lusaka, Zambia’s first EDGE-certified office building
- Winning HedgeNews Africa’s Best Fund of Hedge Fund (Multi-Strategy) award
- Recognition by IFC as an EDGE Champion
- Becoming the first African firm to join IFC’s GRIP greening program
- Winning ABSIP’s Best Multi-Manager or Asset Consultant of the Year (2024)
Ata Capital extends its best wishes to Novare’s management team as they embark on this next chapter of growth. The firm remains committed to empowerment-led transactions that foster inclusive and sustainable investment across Africa.
