Source: Nampak SA still keen to sell stake in Nampak Zim – herald
Tapiwanashe Mangwiro
Senior Business Reporter
SOUTH AFRICAN packaging giant Nampak remains committed to selling its controlling stake in Nampak Zimbabwe, despite the collapse of its proposed US$25 million sale to local diversified group TSL Limited last year.
The Johannesburg Stock Exchange-listed group revealed in its 2026 interim results that the disposal of its 51,43 percent interest in Nampak Zimbabwe was still progressing, with discussions underway with other interested parties.
Nampak said the Zimbabwean business remains classified as a held-for-sale asset as the group pursues its strategy of exiting the local market.
“The disposal of Nampak’s 51,43 percent interest in Nampak Zimbabwe Limited is progressing with interested parties, and the business continues to be classified as held for sale,” the company said.
“Proceeds from the disposal are expected to reduce group net debt and eliminate risk associated with operating in the Zimbabwe economy.”
The update comes nearly a year after Nampak announced plans to sell its stake in the Zimbabwe Stock Exchange-listed packaging manufacturer to TSL Limited.
In October 2024, TSL disclosed that it had made an offer to acquire Nampak’s majority shareholding for US$25 million and that the offer had been accepted.
At the time, TSL said it had begun preparations to conclude and execute the sale and purchase agreement while also seeking shareholder and regulatory approvals.
The transaction was expected to trigger a mandatory offer to minority shareholders of Nampak Zimbabwe in line with local regulations once the disposal had been implemented.
Nampak Zimbabwe, which manufactures paper, plastic and metal packaging products, forms part of the broader Nampak group and is one of the leading packaging companies operating in Zimbabwe.
However, the proposed transaction failed to reach completion.
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