African asset manager, STANLIB, and its holding company, Liberty Holdings Limited, have acquired 100% shareholding in Stanbic Investment Management Services (SIMS) Ghana.
The company would, however, continue to be led by its CEO, Alex Asiedu, and his team of experienced, local investment professionals.
Mr Asiedu said to the media “The business is well-established and has a solid reputation in the market. We are confident that our team of experienced professionals can leverage the global capabilities of a leading investment management firm like Stanlib.”
The acquisition extends STANLIB’s footprint in Africa with the asset manager now having a physical presence in eight African countries outside South Africa.
Its Southern African reach spans Namibia, Lesotho, Botswana and Swaziland. In the East, it has offices in Kenya, Uganda and South Sudan.
After entrenching its presence in Ghana, STANLIB stated it planned to expand into Nigeria.
The acquisition means the Accra-based asset manager is able to tap into the vast experience that STANLIB Africa has built across the continent over the years (its history in Africa dates back to 1998) while STANLIB Africa also gains from the local firm’s solid reputation and strong institutional client base.
STANLIB officials said plans were underway to broaden its services and offer more tailored solutions specially designed for the Ghanaian market, including Alternatives.
These would include direct property, infrastructure and private equity, where SIMS would leverage off STANLIB South Africa’s established Franchises who have strong networks across Africa.
Currently, SIMS traditional products – including money market, fixed income (bonds), equities and multi-asset funds (pension and provident funds) – to its predominantly institutional client base.
STANLIB said overall, Ghana displays compelling opportunities, and it is hoping to contribute to building a culture of saving and investing in the nation.
Ghana’s per capita GDP has nearly doubled from $900 to $1500 for the past six years up until the end of 2012, and it is expected to more than double again by 2020, the company noted.
STANLIB CEO, Seelan Gobalsamy stated: “SIMS Ghana will maintain its reputation for investment excellence and continue to build long-term relationships with customers.
“As we further build our presence across Africa, our goal remains to create innovative, locally relevant investment solutions, and to partner with customers to sustainably grow their investments. We want to be the chosen investment destination in Africa”.
