Passive shareholder in the banking sector in support of business/SME banking, foreign exchange services and alliance banking.
GroCapital Holdings Limited was incorporated in 2017 for the exclusive purpose of acting as the Bank Controlling Company for Grobank (known at the time of acquisition as The South African Bank of Athens).
In September 2018, the Minister of Finance and the Registrar of Banks approved the acquisition of the National Bank of Greece Group’s shares in The South African Bank of Athens (corresponding to 99.81% of the issued share capital of the Bank) and the registration of GroCapital Holdings as a Bank Controlling Company. The Competition Tribunal approved the acquisition.
Subsequently, an offer for the controlling interest in Grobank was made by Access Bank Plc in Nigeria and the controlling interest was attained through a subscription for new shares issued directly by Grobank.
Given the minority interest that GroCapital retains as a passive shareholder in Access Bank SA, it has become a private company, known as GroCapital Holding (Pty) Ltd.
GroCapital Holdings (Pty) Ltd’s board consists of two directors who execute the fiduciary duties of the company.
THE GROCAPITAL HOLDINGS BOARD
Mr Hercu Bloem
Miss Fulufhelo Mphuthi
Independent Non-Executive; GEPF Nominee
GroCapital Holdings is owned by HPF South Africa Investments Proprietary Limited (48,10%), The Government Employees Pension Fund (25,06%) and AFGRI Holdings (26,84%).
FAIRFAX FINANCIAL HOLDINGS LIMITED (Listed on the Toronto Stock Exchange)
HELIOS FAIRFAX PARTNERS
(Listed on the Toronto Stock Exchange)