RMB Ventures announces a strategic equity investment in Mafika Engineering, a major provider of mining services. RMB Ventures has acquired a 45% share in Mafika Engineering, Africa’s largest independent rebuilder of high horsepower (HHP) diesel engines used in the mining industry, in one of their largest private equity investments to date.
Remanufacturing gives mining companies the chance to reuse current materials while recovering the effectiveness and output of their equipment at a cheaper cost for OEM-equivalent quality. Mafika is additionally well-positioned to counteract the lengthy equipment lead times and expensive downtime incurred by mining firms all around the world.
Remanufacturing has drawn more attention internationally, and the heavy machinery sector works to not only prolong the life of expensive mining equipment but also to minimize waste and emissions.
In addition to this, having a partner within the FirstRand Group allows us to gain access to broader networks within the mining sector and further accelerate our growth aspirations.”