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Fair Value: 773
% of Fund Value: 6.9
A leading black-empowered supplier to the resources, industrial minerals, mining, road, rail and construction sectors.

Although it is mainly an aggregate producer, Afrimat has vertically integrated forward to produce value-added materials such as ready-mix concrete and concrete manufactured products.

Afrimat is a defensive investment in the construction sector, as it is geographically diversified, it is vertically integrated and boasts an extensive product range. Its business has a strong balance sheet with low levels of debt and it was able to diversify away from traditional building materials into industrial use minerals that provide protection against a downturn in the construction sector.

Afrimat is valued at R656 million and the ARC Fund’s effective interest in Afrimat will be 18.4%.

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