Alexander Forbes, the South Africa-based financial service advisory firm focused on pension and investment funds, has announced that it is considering potential acquisitions in Tanzania.
In 2011, Alexander Forbes sold its risk services division, leading to its exit from Tanzania, a market where pension sector reforms are currently being implemented and where, according to Chief Executive Edward Kieswetter, the financial firm is now looking to re-enter.
Mr. Kieswetter indicated that the company is focused on acquisitions in English-speaking countries in Sub-Saharan Africa including Tanzania, Malawi, and Ghana.
“These countries are at various stages of reform,” he said, “The aim is to create a formal employment market with formalized retirement fund arrangements.”
Alexander Forbes currently boats a network that is already present in at least seven other African countries including Botswana, Namibia, Kenya and Nigeria.
Its stock price has risen more than 10% since July 2014, when it was relisted on the Johannesburg Stock Exchange (JSE:AFH).