Auction and valuations group Auction Alliance has launched a new office in Namibia, in the first phase of a growth strategy in southern Africa.
The national auction group, which is headquartered in the Cape, focuses on asset management and disposal services to business, financial institutions and the government.
The company, which emerged from the acquisition of the former Boland Bank and Seeff Holdings auction businesses, launched a countrywide roll-out in 2000 and is today one of only two national auction companies with a wholly-owned branch network.
"It was always part of our strategy to enter other neighbouring states, especially after our highly lucrative entry into Swaziland," said CEO Rael Levitt.
In 2001 the company obtained a licence to operate in Swaziland and thereafter conducted several major sales, notably the disposals of JSE- listed Fridgemaster and HVL Asbestos Mines.
Auction Alliance Namibia will be conducting their second government auction in Keetmanshoop at the end of September. - Cape Argus