Alexander Forbes Considers Deals In Ghana

South African financial services advisory firm, Alexander Forbes, is considering potential acquisitions in several African countries including Ghana , its chief executive has said .

Alexander Forbes, which mainly advises and administers pension and investment funds, sold its risk services business in 2011, effectively exiting Tanzania, Malawi and Mozambique.

The company is now looking to re-enter Tanzania and Malawi and is also eyeing Ghana, all English-speaking countries. It is not interested in a return to Portuguese-speaking Mozambique, Chief Executive Edward Kieswetter said.

He said the company was only keen on countries implementing pension sector reforms.

“It’s not our ambition to have a flag in every one of the 54 countries. We focus on English-speaking, sub-Sahara Africa,” he told Reuters.

“All these countries are at various stages of reform. The aim is to create a formal employment market with formalised retirement fund arrangements, that is the opportunity that we take,” he said.

Kieswetter declined to disclose how much the company would spend on any acquisition.

Alexander Forbes already has a network in at least seven other African countries such as Botswana, Namibia, Kenya and Nigeria.

The company’s stock has risen more than 10 per cent since it relisted on the Johannesburg Stock Exchange in July.

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