Africa's leading asset manager, STANLIB, and its holding company, Liberty Holdings Limited, have acquired 100 per cent shareholding in Stanbic Investment Management Services (SIMS) Ghana.
The acquisition of SIMS, which used to operate as part of the universal banking operations of Stanbic Ghana, means the Accra-based asset manager will be able to tap into the vast experience that STANLIB Africa has built across the continent since 1998, while STANLIB Africa also gains from the local firm’s solid reputation and strong institutional client base.
Under the new deal, the company will continue to be led by its current Chief Executive Officer, Mr Alex Asiedu, and his team of local investment professionals.
“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,” Mr Asiedu assured.
Already, SIMS has rolled out expansion plans to broaden its services and offer more tailored solutions specially designed for the Ghanaian market, including alternative investments such as direct property, infrastructure and private equity, where SIMS would leverage off STANLIB South Africa’s established franchises.
“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,” the CEO of STANLIB, Mr Seelan Gobalsamy, said.
The acquisition extends STANLIB’s footprint in Africa - it now has physical presence in eight African countries outside South Africa. Ghana is the first country in West Africa where the company has established a business.
According to managers, Nigeria is STANLIB’s next destination.