Bunge Ltd. has announced that it intends to exercise its option to acquire a 50 percent stake in South African leading agribusiness company, Senwes Africa. The move comes as the duo look forward to further African expansion.
Bunge and Senwes entered into a joint-venture agreement almost a year ago, on 1st October 2011, in a bid to pool expertise and achieve greater growth across the countries of the South African Development Community (SADC).
The joint venture, through Senwes’ African operations, already hosts operations in five of the fifteen SADC member states, namely: South Africa, Malawi, Zambia, Mozambique and Kenya, with imminent entry into the Zimbabwean market planned.