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MBABANE - Sanlam Investment Management Swaziland Limited (SIM/SD) is now 100 per cent locally owned.

Locals have completed the acquisition of 65 per cent of the Company’s shareholding having previously owned 35 per cent.

Local investors under AlphSZ Group previously owned 35 per cent of Sanlam Investment Management Swaziland Limited and they now own 100 per cent.

This was mentioned by AlphSZ Group Chief Executive Officer Thandile Nxumalo, who added that the move would boost empowerment in Eswatini and usher in a strong growth chapter for the successful industry player.

“We are delighted to announce this acquisition as it shows our commitment to being a significant contributor to Eswatini’s economy.

Thank

“We thank God for bringing us thus far. Our thanks also goes to Sanlam Investments South Africa (SA) who have been a steadfast partner throughout the years and will continue to partner with us,” she said.

The management buy-out will convert the organisation into a 100 per cent locally-owned company.

An employee-benefits scheme and a charitable fund will also benefit from the empowerment initiative.

Zacheus Nkosi, Board Chairperson, said the ultimate goal of AlphSZ Limited is to list on the Eswatini Stock Exchange within the next five years.

“This will not only give the company a bigger platform from which to achieve its strategic objectives, it will also empower ordinary Swati citizens to own shares in the company,” said Nkosi.

Wayne Hilton of Sanlam Investments SA and now former director of SIM Swaziland said the company was deeply committed to empowerment and transformation in Africa.