STANLIB prepares for new bout of Africa expansion

STANLIB Africa, the investment marketing and asset management company, is preparing for a new bout of expansion across Africa.

The company is responsible for product development and market growth in all African jurisdictions outside South Africa, the STANLIB home market.

It has direct representation in Namibia, Lesotho and Swaziland (common currency markets where it uses the STANLIB brand identity) and in Botswana, Uganda and Kenya (where it adopts the Stanbic Investments branding of its well-established sister company).

Frank Terblanche, Director, STANLIB Africa, said several factors were behind the planned expansion drive. They included:

1.  STANLIB was launching an Africa fund to take equity positions in fast-growing economies across the continent; a product that would require strong local input from researchers and analysts.

2.  Market research ahead of the funds launch had confirmed strong international interest in African markets, a signal that the time was ripe to further strengthen STANLIBs African footprint.

3.  Standard Bank, STANLIB's parent company, was preparing to strengthen its own position in West and East Africa, creating spin-off opportunities for STANLIB.

4.  Continuing economic growth and capital market development in many African jurisdictions, creating a need for enlarged local operations to pursue strong new business growth.

5.  Specific opportunities in a market such as Namibia where synergies across existing STANLIB business units created a platform for renewed growth.

Terblanche added: "Since the beginning of the year, STANLIB Africa has been adding to its head-count and strengthening local teams. We have a qualitative edge in the markets we serve as we put down local roots and develop local professionals who are close to the needs of local investors.

"This provides a platform for growth in several markets while the initiatives taken by our parent in East and West Africa create a strategic opportunity. We plan to vigorously pursue these opportunities in the months ahead."