Sekhametsi Investment Consortium
Sekhametsi Investment Consortium (SMIC) is a public investment holding company based in Lesotho, focused on acquiring minority equity interests in established businesses across various sectors, including telecommunications and property.
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Overview
Sekhametsi Investment Consortium (SMIC) was established in 1999 as a public company in Lesotho, created to serve as a wealth creation vehicle for the Basotho nation. Initially founded by 30 members, it has grown to over 500 shareholders, including farmers, informal traders, and corporate managers. SMIC's first significant investment was a 12% stake in Vodacom Lesotho, which has since expanded to a 20% ownership. The consortium employs a buy-and-hold strategy, focusing on sustainable investments in telecommunications, property, financial services, and textiles. With a current valuation of M1.1 billion, SMIC is the largest locally owned company in Lesotho, emphasizing citizen ownership and community development.
Focus
SMIC employs a buy-and-hold investment strategy with a long-term horizon, focusing on acquiring significant minority equity interests in established and start-up businesses that meet specific criteria. The organization prioritizes sustainability, past performance, growth prospects, and alignment with national development objectives, particularly in sectors such as telecommunications, property, financial services, and textiles.
Support
SMIC adds value to its portfolio companies through strategic guidance, leveraging its extensive network of community shareholders, and aligning investments with national development goals to ensure sustainable growth.
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