Averda enters South Africa

Averda, a London-based integrated waste management firm that targets emerging regions of the world, has acquired a majority stake in the South African waste management company Wasteman Holdings Ltd.

Averda says the acquisition will expand its geographic footprint in Africa and will provide a solid platform for further growth in the continent. Averda adds that the stake in Wasteman Holdings will “bring significant advantages to both businesses with the opportunity to leverage various initiatives and experiences around city cleaning, waste disposal and recycling as well as the development around new and innovative waste management programs.”

Maysarah Sukkar, Averda’s chairman, says, “In line with our global growth ambitions, the acquisition of Wasteman significantly enhances Averda’s position in Africa to provide specialized solutions for waste management. We are excited about the opportunity ahead and look forward to bringing our vast international experience from city cleaning to waste recovery and disposal to Wasteman’s operations.”

Jan Labuschagne, CEO of Wasteman, comments, “Wasteman group will reap immense benefit from the entry of Averda into the South African market. In addition to the injection of foreign direct investment, Averda will contribute a wealth of waste industry expertise and technology. We look forward to partnering with our new majority shareholder along a path of accelerated growth.”