Jozi Power, the mining power station and transformer rental specialist, bought back the entire 29% stake held by its largest shareholder, a subsidiary of Group Five, currently in business rescue.
Jozi Power operates power stations for mines in Africa. It is currently active at mines in Sierra Leone, Tanzania, DRC and Cote d’Ivoire. It also has some smaller contracts in South Africa due to the recent load-shedding programme implemented by the local power utility.
Founder and Managing Director, Leslie Dann, explained that South Africa is not an obvious market for international power station rental businesses, due to restrictions on the importation of previously used generators.
The buyback of the Group Five stake is not expected to have any effect on the operations of Jozi Power. The company owns a fleet of 60MW of containerised diesel gensets (1MW and 2MW modules) and 40 power transformers, with output voltages ranging from 525V to 33kV.