Liberty continues its African growth path as Stanlib Ghana officially launches

23 October 2014 Thabo Dloti, Liberty

Liberty Holdings subsidiary, STANLIB Asset Management, has acquired 100% shareholding in Standard Bank Investment Management Services (SIMS) Ghana. The acquisition is in line with Liberty’s ambition to grow its investment and insurance business on the continent, with an initial focus on the high growth markets of sub-Saharan Africa. The group is now represented in 17 countries on the sub-continent, including South Africa, with operations covering insurance and asset management.

“The Ghana acquisition extends the footprint of our asset management business and demonstrates the value of the partnership with Standard Bank, which is helping to entrench our presence on the continent,” said Liberty Group CEO Thabo Dloti.

According to Dloti, the opportunities for insurance and asset management are particularly strong in West Africa, where market penetration is low. The group continues to view Nigeria, where it already has a health business, as a highly attractive investment destination and is hoping to diversify into corporate and retail insurance via an acquisition.

“The growth outlook for Africa is encouraging. Positive economic developments and regulatory reforms are taking place across the continent, providing a solid base for growth in retail and institutional segments in key markets,” said Dloti.

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