Despite deal completion, Nampak Zimbabwe sale hinges on regulatory green light

ROBIN PHIRI

The proposed acquisition of a controlling stake in Nampak Zimbabwe Limited by TSL Limited has taken a significant step forward but remains clouded by regulatory uncertainty, as the transaction is still subject to several suspensive conditions.

Nampak Zimbabwe this week confirmed that its parent company, Nampak Southern Africa Holdings Limited, has completed offloading a 51.43% controlling stake in the Zimbabwean packaging company to TSL Limited, a diversified agro-industrial group. However, despite the deal being concluded at shareholder level, its implementation remains dependent on the fulfilment of a series of regulatory and procedural requirements.

“The agreement remains subject to various suspensive conditions,” the company said.

The transaction marks a significant development in the strategic direction of Nampak Zimbabwe, potentially altering its ownership structure and market positioning in the country’s packaging and manufacturing sector.

Market analysts suggest that synergies between the two firms could improve operational efficiencies and unlock value across the supply chain, particularly in agriculture and logistics, where TSL already has a strong presence.

“TSL’s involvement brings local insight and capacity to an industry where regional control has dominated for years. This could be a positive step towards deeper localisation of manufacturing and packaging services,” a Harare-based investment analyst said.

The disposal also appears to align with Nampak Southern Africa Holdings’ broader restructuring strategy. The Johannesburg-headquartered packaging group has been realigning its regional investments to optimise returns amid persistent economic challenges across Southern Africa.

While the financial specifics of the deal remain under wraps, the market is watching closely. A successful transaction could send positive signals about local investor confidence and Zimbabwe’s regulatory environment—provided the necessary approvals are granted.

For now, caution remains the watchword. Until the final regulatory green light is secured, Nampak shareholders and potential investors are advised to tread carefully.

With a deal of this scale on the table and regulatory reviews underway, the coming weeks could prove pivotal for one of Zimbabwe’s leading packaging firms.