AfroCentric Investment Corporation Limited owns 19.3% of Jasco Electronics Holdings Limited, a black-owned South African listed company, that delivers integrated and converged technology solutions across South Africa.

During the 2015 financial year, the directors of AfroCentric Investment Corporation Limited decided to sell its investment in Jasco Electronics Holdings Limited as a result of its average financial performance over the past few years. There were several interested parties and the sale was expected to be completed before the end of June 2016.

The investment in Jasco Electronic Holdings no longer met the criteria as a non-current asset held for sale in the current financial year and was reclassified to Financial asset at fair value through profit and loss. Refer to note 9.11.