STANLIB, a South Africa-based asset manager, and its parent company Liberty Holdings have purchased 100% stake in Stanbic Investment Management Services (SIMS) Ghana.
The acquisition will expand STANLIB’s presence in Africa, reported Peacefmonline.com.
Following the acquisition, SIMS will continue to be headed by its CEO, Alex Asiedu, and his team of experienced, local investment staff.
Additionally, SIMS has also unveiled plans to expand its services and provide more tailored solutions specially designed for the Ghanaian market, including alternatives, direct property, infrastructure and private equity.
As part of the deal, SIMS will leverage STANLIB expertise to increase its retail investor base, where there are significant untapped growth opportunities.
Currently, STANLIB has presence in eight African countries outside South Africa. It is also planning to expand its footprint into Nigeria.
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Seelan Gobalsamy, CEO of STANLIB, said: "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."