After pushing the Mo'Faya energy drink for some years, DJ Sbu confirmed that Coca-Cola has bought a 26% stake in the product for R493 million.
DJ Sbu clarified that the R493 million will not be given to the Mo'Faya shareholders but will be used to ensure that the brand continues to grow in South Africa and throughout Africa.
"...Before you read about it in tomorrow's Sunday Times Newspaper. We would like to proudly announce the sale of a 26% stake in the @Mofaya_Official Beverages Company to @CocaCola for R493 Million Rands.
An acquisition deal that will see the Mo'Faya Brand produce its own carbonated drinks categories and different energy drink flavors & will see the MoFaya Brand in every fridge in the whole of South Africa, SADC & over 17 African countries. The R493 Million paid by Coca-Cola will NOT go to the MoFaya Beverages Company shareholders. Still, it will be invested back into the company for at least 3 years before shareholders can withdraw."
DJ Sbu also explained that more information will be revealed at a press conference scheduled for Wednesday, 5 April 2017.
Now, this is some exciting and inspiring news to hear, especially after a hectic week of re-shuffling.
Congratulations to DJ Sbu and everyone who has made the Mo'Faya dream work. We hope this is not an April Fools joke.
