Competition Commission approves PSG’s acquisition of ButtaNutt with conditions
The Competition Commission has granted conditional approval for PSG’s proposed acquisition of ButtaNutt, marking a significant development in South Africa’s investment landscape. PSG, the primary acquiring entity, operates under the ultimate control of a family trust and oversees multiple subsidiaries collectively known as the “Acquiring Group.”
The Acquiring Group functions as an investment holding company with notable interests in agriculture, including the production of vegetable seeds and fresh produce. The Commission clarified that PSG’s agricultural operations do not extend to peanuts, tree nuts (such as almonds, cashews, pecans, or macadamias), or dried fruits—inputs central to ButtaNutt’s business.
ButtaNutt, currently controlled by Pioneer Foods (Pty) Ltd, specialises in manufacturing nut butters (including peanut, macadamia, almond, cashew, and pecan varieties) and plant-based dairy alternatives, such as oat, almond, and macadamia milk. Its product portfolio also includes dairy-free yoghurt alternatives, rusks, chocolate-coated macadamia nuts, and dried fruit snacks.
The Commission concluded that the transaction is unlikely to significantly impede competition in any market. To address public interest considerations, PSG has pledged to enhance distributions from its B-BBEE educational trust to historically disadvantaged persons. No additional public interest concerns were identified.
African Development Bank and Standard Bank Ink R3.6bn Deal to Boost SMMEs and Trade
The African Development Bank Group and Standard Bank Group (SBG) have formalised a financial partnership aimed at bolstering small, medium, and micro enterprises (SMMEs) and advancing trade across Africa. The agreement comprises a R3.6 billion social bond investment and a $200 million Risk Participation Agreement (RPA) with Standard Bank of South Africa Limited (SBSA).
The social bond targets SMMEs with turnovers below R300 million and loans under R40 million, enhancing SBSA’s lending capacity. This initiative is projected to support approximately 4,000 businesses, fostering job creation and economic resilience in South Africa, where SMMEs constitute 60% of employment. Kenny Fihla, deputy CEO of SBG and CEO of SBSA, emphasised, “This partnership fortifies our support for SMMEs, vital to South Africa’s economy, aligning with our Sustainable Finance Framework.”
The $200 million RPA bolsters trade finance, particularly in Low-Income Countries and Transition States, by mitigating risks for local banks and narrowing the trade finance gap. Leila Mokaddem, African Development Bank’s director general for Southern Africa, noted, “This collaboration underscores our commitment to SMME growth and intra-African trade, driving economic transformation.”
Satrix Partners with Money School to boost financial literacy for 2025 class
Satrix, a provider of index-tracking products in South Africa, has teamed up with Money School to equip Grade 11 and 12 learners with vital financial literacy skills amid the nation’s economic challenges, including high unemployment, inflation, and rising costs. The initiative addresses a critical gap, with a 2021 OECD survey revealing South Africa’s adult financial literacy rate at just 42%, and only 6% of citizens projected to retire comfortably.
The partnership, launched in 2022, targets 113 schools nationwide, offering virtual sessions streamed Thursdays from February 27, 15:00 to 16:30. Topics include budgeting, saving, and investing, delivered by experts, followed by interactive Q&A segments. Resources like worksheets and quizzes are accessible at moneyschoolsa.co.za.
Duma Mxenge, Satrix’s head of business and market development, emphasised the program’s goal: “Early financial education reduces debt risks and fosters saving and investing habits, unlocking wealth creation.” With South Africans spending heavily early in the month and facing debt burdens—up to 71% of salaries for higher earners—this initiative seeks to empower youth, curb financial pitfalls, and support economic growth through informed entrepreneurship.
PERSONAL FINANCE