African property company Grit Real Estate Income Group (Grit) has cleared a path for increased dividend distributions and NAV growth following a decisive piece of corporate action in the form of a heavily NAV dilutive capital raise. It has used the proceeds to bring its loan to value (LTV) under control and to expand its core business with the acquisition of a developer and asset manager. The developer – Gateway Real Estate Africa (GREA) – has an attractive pipeline of NAV accretive development ....