Founders Story

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Timeline of Events


■ Acquisition of Assets

■ Key Events

January 2020

Acquisition of Club Med Cap Skirring Hotel for EUR 16.2 million (Senegal)
[with subsequent redevelopment scheme capped at EUR28m]


■ Acquisition of Assets

■ Key Events

March 2019

Acquisition of an additional 25% equity stake in Mukuba Mall in Kitwe for US$8.2m  (Zambia)

April 2019

Paid distribution of US$5.25cps for the six months ended 31 December 2018

June 2019

Acquisition of an additional 20 units and development land at VDE Housing Estate in Tete for US$3.6 million (Mozambique)

September 2019

US$140m debt facility in respect of Mozambique portfolio refinance

September 2019

Successful completion and launch of AnfaPlace Mall renovation at a capital cost of US$25m (Morocco)

November 2019

Acquisition of additional 23.75% interest in Bostwana-listed Letlole La Rona (LLR) for US$13.8m (Botswana)

November 2019

Paid distribution of US$6.95cps, take FY2019 distribution to a total of US$12.20cps


■ Acquisition of Assets

■ Key Events

March 2018

Paid distribution of US6.07cps for the six months ended 31 December 2017 

May 2018

Acquired 47.5% of Capital Place for US$12.2m (Ghana)

July 2018

Grit successfully raised US$132m in London Listing Capital Raise

Grit becomes the first Pan-African Real Estate Income Group & first Mauritius-domiciled company to list on the Main Market of the London Stock Exchange (LSE)

Introduction of UK Investors into share register

August 2018

Acquisition of 80.1% stake in Acacia Estate for US$24.2m (Mozambique)
[Tenanted by the US Embassy] 

September 2018

Acquisition of CADS II Building for US$10.5m in Accra (Ghana)

November 2018

Paid dividend of US$6.12cps, taking FY2018 distribution to a total of US$12.19cps

December 2018

Acquisition of 5th Avenue Building for US$20.5m in Accra (Ghana)


■ Acquisition of Assets

■ Key Events

March 2017

Leaseback acquisition of Tamassa Resort (Mauritius) from Lux Resorts for US$40m & acquisition of Mall de Tete (Mozambique) for US$24.2m

March 2017

Paid distribution of US6.12cps for the six months ended 31 December 2016

June 2017

Distribution – clean out dividend for period 1 Jan 17 to 30 Apr 17 of US4.57cps prior to Rights Offer

Raised US$121m by way of a Rights Offer at an issue price of US$1.40 per share, significantly increasing market cap and asset value to c.US$600m

June 2017

Acquisition of 50% stake in Cosmopolitan Mall for US$37.2m (Zambia)

July 2017

Shareholders approved Grit’s rebrand and name change, reflecting the Group’s current reality and future growth ambitions

August 2017

Acquisition of Imperial Distribution Center for US$18m (Kenya)

Acquisition of 6.25% stake in Letlole La Rona (Botswana)

October 2017

Paid distribution of US1.38cps, taking FY2017 distribution to a total of US$12.07cps

October 2017

Inclusion into the SEM-10 Index

November 2017

Completion of Commodity House Phase II at a value of US$8.5m (Mozambique)


■ Acquisition of Assets

■ Key Events

February 2016

Acquisition of ABSA House for US$13.6m (Mauritius)

March 2016

Paid distribution of US$6.17cps for six month period ended 31 December 2015

April 2016

Acquisition of 50% stake in Buffalo Mall (Kenya) & Bollore Warehouse (Mozambique) for US$14.8m (combined)

May 2016

Delta Africa officially becomes Mara Delta – the largest pan African income fund listed on the JSE and SEM

October 2016

Paid distribution of US$5.58cps, taking FY2016 distribution to a total of US$11.75cps

September 2016

Acquisition of VDE Housing Estate for US$33.1m (Mozambique)

December 2016

Leaseback acquisition of a 44.4% stake in Beachcomber Hospitality Investments (BHI), owner of 3 luxury resorts for US$83.4m (Mauritius)


■ Acquisition of Assets

■ Key Events

March 2015

Debut on Mauritius Stock Exchange (SEM) and migration from BSX.

Maiden distibution of US$6.64cps

April 2015

Introduction of the Public Investment Corporation as anchor shareholder in US$42.0m capital raise

April 2015

Acquisition of Hollard building for US$14.9m (Mozambique)

May 2015

Acquired the Vodacom Building for US$49m (Mozambique)

June 2015

Maiden issue of shares on the SEM

August 2015

Paid distribution of US$4.65cps, taking FY2015 distribution to a total of US$11.29cps

August 2015

Acquisition of Zimpeto Square for US$10.2m (Mozambique)

November 2015

Delta Africa and Pivotal announces business agreement to become Mara Delta

December 2015

Acquired Kafubu and Mukuba Malls for US$40.6m (Zambia)


■ Acquisition of Assets

■ Key Events

January 2014

Grit Real Estate Income Group Founded

Bronwyn Corbett and Greg Pearson, aware of the strong demand for world-class corporate real estate development across Africa, established Grit Real Estate Income Group* (“Grit”) in 2014.

July 2014

Acquired Commodity House Phase 1 as its 1st asset for US$32.5m (Mozambique)

Acquisition of AnfaPlace Mall for US$114.7m (Morocco)

July 2014

Completion of inward listing on the JSE Limited’s ALT-X board

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