Formerly known as Sanlam Eswatini; Alphsz & EBENEZ today hosted an Evolution Indaba, where they re-lived their journey dating back to 2003. The group CEO Thandile Nxumalo also revealed that they currently have a total of E2.7 billion Assets Under Management.
Photo Credit:
By Ntokozo Nkambule
Various Captains of Industry converged today at the Royal Villas as Alphsz & EBENEZ hosted an evolution Indaba, detailing where the company comes from, as well as their aspirations going forward including the possibility of listing on the Eswatini Stock Exchange.
Alphsz and EBENEZ are both 100% locally owned following the buyout from the Sanlam group. Before the buyout, local shareholders owned 35% of Sanlam Investment Management Swaziland, and the Sanlam group owned the remaining 65%. That company is now Alphsz. When it comes to EBENEZ, the local shareholders owned 65%, with Sanlam Investment South Africa owning 35%.
Group Chief Executive Officer (CEO) Thandile Nxumalo in her presentation revealed that the journey dates back to 2003 when they invited Sanlam to then Swaziland, with partnerships talks beginning in 2008 when Sanlam decided to invest in Eswatini. Sanlam Investment Management Swaziland Limited was then incorporated in 2011. She said in 2011 when they were incorporated, they had a total of zero Assets Under Management, yet today they boast a total of E2.7 billion in Assets Under Management.
Going forward, the group CEO said the company will continue to offer traditional and non-traditional asset management. “The desire of Sanlam to work with a local consortium led by management continues with Sanlam, with a 5-year exclusivity on traditional activities. Sanlam will continue to provide portfolio management and administration services for foreign assets. Alphsz and EBENEZ still desire to be around and work with Sanlam for the next 100 years. One of our aims is to list at the Eswatini Stock Exchange at the end of the next five years, to thereby increase our local shareholder base” Nxumalo noted.
Also present during the event was the Minister of Finance Neal Rijkenberg, Sanlam Group Chairman, Elias Masilela, and the CEO of the Financial Services Regulatory Authority (FSRA) Ncamiso Ntshalintshali, among others.
7 thoughts on “WE HAVE AMBITIONS OF LISTING ON THE ESWATINI STOCK EXCHANGE”
Comments are closed.