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Home News Enrique Razon's ICTSI Expands in Africa with New Acquisition

Enrique Razon's ICTSI Expands in Africa with New Acquisition

Sep 1, 2026
75 min
10
Sep 1, 2026 12:31
Top Filipino billionaire bets bigger on Africa: Enrique Razon’s ICTSI to buy port operator across 3 countries — report

## ICTSI's Strategic Move

International Container Terminal Services Inc. (ICTSI), led by Filipino billionaire Enrique Razon Jr., is set to expand its presence in Africa. The company has agreed to acquire TLG Acquisition Holdings, a port and cargo-handling firm operating in Mozambique, Namibia, and South Africa. This acquisition marks a significant step for ICTSI as it ventures further into bulk and specialized cargo handling.

## Details of the Acquisition

The deal involves ICTSI purchasing a 74% stake from African Infrastructure Investment Managers and a 26% stake from Mokobela Shataki, a South African investment company. This will give ICTSI an effective economic interest of approximately 97.33% in TLG. The acquisition is still subject to regulatory approvals.

## Razon's Expanding Empire

Enrique Razon Jr., recognized as the richest person in the Philippines in 2026 by Forbes, has seen his wealth grow significantly due to the success of ICTSI. The company reported a record net profit of $1.1 billion in 2025, with revenues reaching $3.2 billion. Razon's business interests extend beyond ports, including property development, gaming, water infrastructure, energy, and mining.

## Importance of Southern Africa

The acquisition provides ICTSI with a strategic foothold in Southern Africa, a region crucial for mineral, agricultural, and bulk-cargo exports. This move allows ICTSI to capitalize on the region's export potential and address challenges such as port congestion and outdated infrastructure. By enhancing port operations, ICTSI aims to facilitate faster exports and reduce logistics costs for resource-rich countries like South Africa, Mozambique, and Namibia.

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