History and Background

The Company was incorporated under the Companies Act, 1963, (Act 179) as a private limited liability company on April 21, 2008. The Company obtained a certificate to commence business on April 22, 2008. The shareholders of the Company, on October 19, 2011, resolved that the Company be converted from a private limited liability company into a public limited company. 

At the Annual General Meeting of the Company held on October 30, 2012, the shareholders of the Company passed resolutions authorizing the Company to undertake a public offer to raise additional capital, to list on the GSE and the adoption of new Regulations in compliance with the Listing Rules of the GSE.

The Company’s Authorised Business 

The Company was incorporated as an investment company to invest its capital for the mutual benefit of its members and arrange to hold, and arrange for the management of assets acquired by the Company.

Our  Objectives 

MAC was established as a long-term Investment Company for high net-worth investors seeking exposure to African opportunities with the potential to generate high real returns. The Company‟s objective is to provide long-term capital growth primarily through investment in selected African securities. The Company seeks to expand its investor base to include retail investors. This Transaction would potentially broaden the investor base of Mega African Capital Limited to include retail investors. 

Our Investment Philosophy 

Based on its investment objectives, MAC has developed the following investment philosophy: 

  • To have access to markets in several African countries to improve returns 
  • To undertake bottom-up approach to security selection 
  • Use valuation models such as discounted cash flow, comparable company valuations and evaluation of a company‟s assets to identify bargains 
  • Identification of and investment in over-looked, out-of-favor stocks in order to capitalize on potential growth 
  • Investment in companies with strong cash generation capability 
  • Undertaking of selling strategy based on achievement of target prices 
  • Identification and evaluation of emerging trends in different sectors and geographies 
  • Selective use of leverage to enhance returns 
  • Concentration of investments in promising sectors in order to optimize returns 
  • Investments are selected based on potential for rapid increase in value, liquidity and downside protection 


Prime Benefits of our Investment Philosophy 

The prime benefits of adopting these investment philosophies include the following: 

  • Opportunity to profit from high returns in early stage markets 
  • Participation in opportunistic deals normally available to selected few 
  • Benefit from professional management and expertise of manager in stock selection 
  • Participation in pre-listing deals and private equity deals 
  • Use of leverage to enhance returns