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Labat Africa pivots further into technology with R2.5 billion Ubits royalty agreement
Cape Times
|March 27, 2025
Labat says the transaction represents a “significant development that will further enhance growth trajectory”
LABAT Africa Group, which previously focused on cannabis sector investments, is now pivoting to technology and it has entered into a R2.5 billion royalty distribution agreement with Ubits Technology Solutions.
The management team at Labat said on Wednesday that the transaction represents a “significant development that will further enhance Labat’s growth trajectory in the technology and AI sectors”.
On March 4, Labat said, successfully completed the acquisitions of 75% of Classic 1027 (Classic) and 75% of Ananhu Investments. These acquisitions aim to strengthen Labat’s position in the rapidly evolving technology sector, particularly within AI-led innovation.
“In line with the new journey of Labat, we are excited to announce that Labat has entered into a landmark R2.5bn royalty distribution agreement with one of the leading fintech companies,” Labat’s directors said in a statement.
This story is from the March 27, 2025 edition of Cape Times.
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