Ninety one Namibia and Sanlam Allianz Namibia’s plan to combine their asset management businesses has yet to be filed with the Namibia Competition Commission (NaCC).
Ninety One Namibia and Sanlam Allianz yesterday announced plans to combine their active asset management businesses.
NaCC spokesperson Dina //Gowases tells The Namibian that the commission had not received any notification relating to the proposed merger.
“They are probably still in the process of filing, so we will await the notice filing with regard to the proposed transaction,” //Gowases says.
The proposed deal would see the enlarged business operate under the Ninety One Namibia brand, with Sanlam Allianz Namibia appointing it as its primary active asset manager for an initial 15-year term.
The two companies, however, indicated in their announcement that the proposed transaction remains subject to shareholder and regulatory approvals, including NaCC and the Namibia Financial Institutions Supervisory Authority.
“We will of course submit it to them. We have to do that,” Sanlam Allianz head of brand and people Evans Simataa says.
The merged entity will bring together the investment expertise and resources of both companies.
The agreement follows a strategic partnership announced in November 2024 between South Africa-based Sanlam Limited and Ninety One.
Ninety One Namibia managing director Eino Emvula says the proposed combination reflects confidence in Namibia’s investment industry.
“By bringing together two respected businesses with complementary strengths, we are creating a platform that can deliver long-term value to Namibian savers, institutions and policyholders,” he says.
Emvula says the enlarged business would combine local investment knowledge with global investment capabilities, helping to meet the changing needs of clients while supporting the growth of Namibia’s financial markets.
Ninety One Africa managing director Thabo Khojane says Namibia has a well-developed investment sector, but local savings have not always been channelled into productive investments within the country.
“The enlarged business will have the capability to deploy more domestic savings into Namibian opportunities, particularly within private markets and infrastructure, where investment is essential to unlocking growth and job creation,” he says.
Ninety One was established after demerging from Investec Asset Management Namibia in 2020.
The divorce came after former directors James Hatuikulipi and Ricardo Gustavo, resigned from Investec Asset Management after being implicated in the Fishrot corruption scandal.
Sanlam Allianz Namibia was formed in June last year following Sanlam’s partnership with Allianz, one of the world’s largest insurance and investment groups.
The agreement will also allow Sanlam Allianz Namibia to invest in selected private credit and specialist credit strategies focused mainly on opportunities in Namibia.
Sanlam Allianz Namibia group chief executive Tertius Stears says the partnership would strengthen the company’s position as a multi-skilled asset manager.
“By leveraging our complementary competencies, Sanlam Allianz will be strengthening its Namibian and global position as a multi-skilled asset manager,” he says.
Stears says the partnership would combine Ninety One’s investment expertise with Sanlam Allianz Investment’s strengths in passive investments, alternative asset classes and multi-managed solutions.
