Akani sets up shop in Lesotho as increases its Southern African footprint

Akani Retirement Fund Administrators, one of the largest black-owned and managed financial services groups in South Africa officially launched its Lesotho subsidiary on Saturday – Akani Financial Services in Maseru – amid fanfare involving government ministers and local dignitaries from the financial services industry.

Akani’s entry into the retirement fund industry in Lesotho follows many years of hard work setting up systems and an appropriate operating framework that saw it being granted a license to operate as a pension funds administrator by the Central Bank of Lesotho in December last year.

As one of the largest black-owned and managed financial services groups in South Africa with assets under administration north of R26 billion, more than 50 000 lives under administration and employees totaling over 100 – Akani aims to replicate their SA success for the Basotho people.

“With a new government under the leadership of Prime Minister Sam Matekane, there is a sense of renewed hope in Lesotho and we believe it’s the right time to be part of the Basotho people in writing a new chapter of economic growth and prosperity in the mountain kingdom. As our brand slogan says, “Creating wealth for the Basotho nation” – to us this is more than just a slogan – it’s a commitment we are making to the Basotho people as we believe that through retirement savings – people have the potential to create wealth in the long term.”