Haroldt Urib heads STANLIB and Charter Life Namibia growth strategy
STANLIB Namibia and Charter Life Namibia have announced the launch of a new, significantly strengthened and combined business with the mission of securing strategic growth in Namibias rapidly developing financial services market.
Haroldt Urib, a former Namibian top diplomat and adviser to the president of the UN General Assembly, has been appointed Managing Director of the expanded business.
The newly created structure integrates the asset management and product development operations of STANLIB Namibia with the management and administrative capabilities of Stanlib Unit Trusts and the risk business of Charter Life Namibia. This affords the customer a one stop shop for all their financial needs allowing them to benefit from the full wealth product offering.
Haroldt Urib commented: "The restructure creates an integrated wealth company capable of creating comprehensive solutions for the savers and investors of Namibia. There is no artificial separation of financial products. We can mobilise a wide array of resources to deliver optimum client solutions.
"Most significantly, this business model enables us to fully utilise local talent on a mission to nurture and grow the wealth of individual Namibians, retirement fund and corporate institutions in the vibrant economy..
"Since 1990, I have dedicated myself fully to the national development of Namibia. I thus see these structures rooted in a solid, indigenous base as a tool for taking this work forward in the strategically important financial services sector. Capital market development and national development are closely aligned," says Haroldt.
After diplomatic service in the USA, Haroldt Urib led the Washington-based marketing consultancy, Emerging South, Inc as Chief Executive Officer.
He joins STANLIB Namibia just as its Johannesburg-based sister company STANLIB SA (South Africa's largest unit trust company) and their parent company Liberty Life, have committed themselves to major expansion in Africa.
Outside of its home market of South Africa, STANLIB and its parent company are represented in Namibia, Botswana, Lesotho, Swaziland, Kenya and Uganda. Entry into the Nigerian and Ghanaian markets is imminent.
STANLIB Africa director Frank Terblanche noted: "Haroldt's appointment, the restructure and new investment in Namibia are key elements in the groups new Africa expansion strategy..
"We see Namibia as a key financial services market with huge potential. Our primary focus is on the establishment of a credible local presence with a track record of strong commitment to Namibia as well as for developing local skills and resources." Says Frank.
"Haroldt and his team are now in a position to grow our Namibian business and further develop our wealth full offering which places key emphasis on local jobs, local ownership and local product structuring as well as Namibian input into Africa-wide product development". Frank Terblanche emphasised.
STANLIB estimates the size of the Namibian retail investment market to be about N$11 billion and puts the institutional market at approximately N$45 billion. Its Namibian operations have more than 30% of retail market assets under management.
Haroldt Urib added: "The full wealth offering model has been designed to facilitate market leadership in Africa. The strategy is to build local capacity at staff, shareholder and industry levels.
"This makes the model so exciting you build the business by building local capacity. I'm thrilled to be part of the team."
* Paris-educated Haroldt Urib is fluent in French, English, Damara, Otjiherero and Afrikaans. He began his successful foreign service career as adviser to the Foreign Affairs Minister and helped define Namibias post-independence ties with Africa, Europe and North America. He has worked on missions to the European Union, the Benelux countries, the World Trade Organisation, the UN and USA.
