Johannesburg Stock Exchange (JSE) listed logistics company, Cargo Carriers, has agreed to sell its 55% shareholding in BHL Zambia and 51% shareholding in BHL Namibia to Zambian-based Beefco for a total of US$1.94 million.
The company said in a cautionary notice on its website that its growth objective included expanding its interests in neighbouring countries. “The acquisition of a controlling interest in BHL achieved both of these,” it said.
“However, the exposure to the fluctuations in the mining economy in Zambia and changes in the currency environment, among other matters, has led to Cargo Carriers accepting an offer for the business.”
BHL Zambia specialises in the transport of various commodities, including copper concentrates, lime and sulphuric acid, and provides logistics solutions within Zambia and sub-Saharan Africa to clients operating in the mining, manufacturing and agricultural sectors.
