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Labat Africa pivots further into technology with R2.5 billion Ubits royalty agreement
The Star
|March 27, 2025
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, successfully completed the acquisitions of 75% of Classic 1027 and 105.7 and Hot 91.9 as Classic Acquisitions. These acquisitions aim to strengthen Labat’s position in the rapidly evolving technology sector, particularly within its blue-chip client base.
“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.
Cette histoire est tirée de l'édition March 27, 2025 de The Star.
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