Frank Buyanga takes control of Pagliari Group

Businessman, Frank Buyanga’s African Medallion Group (AMG) has taken control of Cape Town-based Pagliari Group, a subsidiary of Rand Refinery, which manufactures and supplies high quality minted products.

AMG’s deal with Rand Refinery, is the largest integrated single-site precious metals refining and smelting complex in the world and has opened a new area for the founder Buyanga, who has interests in financial services, mining, and property.

The acquisition of Pagliari comes as AMG has hit the R3.5 billion mark on its gold reserves.

 Pagliari Group, which was founded in 1957 by Mauro Pagliari, the Group of companies, comprises Pagliari (Pty) Limited and the Cape Mint (Pty) Limited. The agreement of sale of shares between Buyanga’s African Medallion Group (AMG) and Rand Refinery signed on May 15, 2018, in Johannesburg.

Buyanga is a respected and down to earth businessman who commands respect in the corporate world. AMG has in recent months been making big moves on the gold scene, which has seen the company’s gold reserves balloon to R3.5 billion up from R1 billion a year ago.

The AMG deal will now assist the company with its value-added products strategy.

Pagliari’s product offering extends across the precious metals value chain which begins with smelting, refining and recovery of precious metals. In addition, AMG manufactures the African Gold Medallion.

AMG chairperson, Estee Maman, said the acquisition of the Pagliari was part of her group’s growth strategy.

She said AMG has seen rapid growth since its formation and will focus on expansion within the continent through organic strategic acquisitions.

“We intend to grow bigger for the benefit of the rest of Africa. This shows the people how AMG is progressing, this is for the people, the more we able to grow the more the people benefit,” Maman said.

AMG, the 14month old start-up’s accelerated growth has given it a boost as it plans to enter the highly unpredictable African market.

When it comes to growth, every company has a unique path to follow. Part of the challenge in determining how quickly you should grow is knowing which path you are on. AMG knows its path and with Pagliari acquisition, the start-up is heading in the right direction was a statement published on their website.

Pagliari has a rich history in South Africa.

The group became known when the late owner, Mr Mauro Pagliari, in 1962 produced the largest piece of worked gold in South Africa, the 18ct gold Parliamentary Mace, a piece that is still exhibited at the Parliamentary building in Cape Town today.

In 2005 the Pagliari Group was commissioned to manufacture the Black Rod of the South African Parliament

The Mace has become the foundation and benchmark of quality which remains in the company and for which the Pagliari Group and its subsidiary companies are world renowned.