Alex Forbes extends footprint to Zim

HARARE - South Africa’s Alexander Forbes Group Holdings on Friday said its acquisition of a significant stake in African Artcurial Consultants (AAC) has received all the necessary relevant regulatory approvals.

Andrew Darfoor, Alexander Forbes group chief executive, said AAC gives the specialised financial services group with its head office in Sandton, South Africa and business interests in Africa, Europe and the Middle East, access to the financial services sector in Zimbabwe.

“We are looking forward to be providing actuarial consulting services as well as a wide range of advisory capabilities such as risk and investment management, product development and consultancy on regulatory compliance.

Darfoor, who noted that AAC has ambition to become one of the leading actuarial and consulting companies not only in Zimbabwe but across broader sub-Saharan Africa, added that Alexander Forbes is cautiously optimistic about Zimbabwe’s economic revival and growth.

“While it is early days, we remain optimistic about the future of the country based on the various initiatives that the government is seeking to undertake to attract both domestic and foreign investment.

“A sustainable growth path is crucial to the success of any country and the financial well-being and security of its people. There are grounds for optimism in Zimbabwe,” he said.

AAC chief executive Tinashe Mashoko said the investment by Alexander Forbes comes at a time when the company is actively growing in Zimbabwe as well as in the region.

“There are significant benefits from being part of Alexander Forbes with whom we share their ambition to grow a distinctly pan-African financial services group. We have aspirations to grow in the region and their acquisition of a significant stake in AAC aligns our regional ambition with that of Alexander Forbes,” he added.

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