Founders
Grit was established in June 2014 when Co-Founders Greg Pearson and Bronwyn Knight recognised the opportunity to develop a diversified real estate income company that partners with multinational blue-chip tenants across their real estate needs in Africa (ex South Africa). The Company was established with a permanent capital structure and an investment mandate, from its shareholders, of holding income producing real estate assets on the continent, excluding direct property development risk.
Multinational clients generally require quality real estate solutions that include development capabilities. This led to the establishment of Gateway Real Estate Africa (GREA), a private turnkey development construction company in which Grit has a 19.98% interest, and which now allows the Group to service the full spectrum of its clients’ real estate requirements.

Bronwyn Knight
Bronwyn Knight, Grit CEO, is a South African Chartered Accountant with extensive experience across the unlisted and listed real estate sector. She has successfully led debt raising programmes as well as the listing of REITs on the Johannesburg Stock Exchange. She is a past winner of the South African Institute for Chartered Accountants’ “Top 35 under 35”competition and a winner of the Southern Africa chapter of the EY World Entrepreneur Awards Programme in the Exceptional category.
Her passion for African real estate is only exceeded by her support of causes that empower the continent’s women, wildlife, and oceans.
Greg Pearson
Prior to co-founding Grit, Greg Pearson was an executive at AECOM, a NYSE listed infrastructure firm, where he was Managing Director of its African operations. He developed an expansive strategic business network of multinational tenants with diverse real estate needs, local and global developers and influential industry players on the continent and beyond. He has successfully completed a series of developments across the office, retail, leisure, education and healthcare sectors and has experience in over 40 African countries.
Greg is currently CEO of Gateway Real Estate Africa (GREA), in which Grit owns a 19.98% interest.
Timeline of Events
2022
Asset Dealings
Key Events
February 2022
Declared dividend of US$2.50cps for the six month period to 31 Dec 2021
March 2022
Completion of Orbit Africa Warehouse Facility Acquisition for a total expected investment value in the property of c.US$53.6 million
April 2022
Acquisition of 77.95% controlling interest in APDM and increased interests in GREA to 26.29%
01 July 2022
Disposal of Absa House in Ebene, Mauritius, generating MUR191 million/US$ 4.2 million net equity sale proceeds for the Group.
July 2022
Conclusion of ABSA House Disposal in Ebene, Mauritius for US$12.2m, with net proceeds of US$4.2m used toward further debt reduction
August 2022
Increased stake in GREA to 35.01% from 26.29% (completion of Phase 2 of the GREA Acquisition)
October 2022
Concluded the largest real estate Sustainability-Linked Debt Facility to date in Sub-Saharan Africa (excluding South Africa) for up to US$306 million
2021
Asset Dealings
Key Events
January 2021
Successful transfer to Premium segment of the LSE.
February 2021
Redomiciliation of corporate seat to Guernsey.
February 2021
Declared dividend of US$1.50 cents per share for the six month period to 31 Dec 2020
July 2021
US$25M IFC loan agreement signed for Orbit Africa Warehousing & Manufacturing Facility (Kenya)
October 2021
Signed perpetual preference note which will raise up to US$31.5M to fund acquisition and redevelopment of Orbit Africa Warehousing & Manufacturing Facility (Kenya)
December 2021
c.US$76m capital raise from placement of 146,342,312 new Ordinary Grit Shares
2020
Asset Dealings
Key Events
January 2020
Acquisition of Club Med Cap Skirring Hotel for EUR 16.2 million (Senegal)
[with subsequent redevelopment scheme capped at EUR28m]
March 2020
COVID-19 pandemic results in lockdowns and travel restrictions, hospitality and retail sectors temporarily affected.
April 2020
Paid interim dividend of US$5.25 cents per share for the six month period to 31 Dec 2019
July 2020
Company delists from the JSE, remaining primary listed on the LSE with a secondary listing on the SEM.
August 2020
Conversion of LSE stock quote to Sterling.
September 2020
Disposal of 39.5% interest in AnfaPlace Mall for US$25.5M (Morocco)
September 2020
Redevelopment of Bollore Warehouse announced for US$7.6 million (Mozambique)
December 2020
Disposal of 17.35% interest in Acacia Estate for US$11.8m (Mozambique)
2019
Asset Dealings
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
2018
Asset Dealings
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)
2017
Asset Dealings
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$17.3m (Mozambique)
2016
Asset Dealings
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)
2015
Asset Dealings
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)
2014
Asset Dealings
Key Events
June 2014
Grit Real Estate Income Group Founded
Bronwyn Knight 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