BY BUSINESS EDITOR
MBABANE – On the 10th of November 2023, The Eswatini Stock Exchange (ESE) Market Committee approved the admission of AlphSZ Securities Limited as an Authorized Dealer.
The admission follows that of AlphSZ Securities Limited being granted a license by the Financial Services Regulatory Authority (FSRA) to carry out the business of dealing in securities in the Kingdom of Eswatini.
The license number for AlphSZ, granted in terms of section 31 of the Securities Act No. 9 of 2010, is STB/030/23. Simply interpreted, this means AlphSZ is now admitted as the third Stockbroker member of the ESE, while Mpumelelo Ngcamphalala is admitted as AlphSZ Securities Limited’s Authorized Dealer Representative (ADR) to the ESE.
ESE said the admission of Mpumelelo Ngcamphalala as an ADR follows that of his licensing by the FSRA as a Dealer Representative under license number STB/030/23/DR/1.
Worth noting, AlphSZ Group Assets Under Management (AUM) amounts to E2.7 billion in 2022. This was mentioned by AlphSZ Group Chief Executive Officer (CEO) Thandile Nxumalo, during AlphSZ and Ebenez evolution indaba at Royal Villas. AlphSZ is short for Alpha Eswatini.
SANLAM Investment Management Swaziland Limited (SIM/SD) is now 100 per cent locally owned, as locals completed the acquisition of 65 per cent of the company’s shareholding in August this year, 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.
Their investment is safe as the AUM has accumulated to E2.7 billion from E0 in 2011. This depicts an average growth of about E255 million annually.
The AUM includes 60 per cent of Segregated Pure Equity Mandates, 28 per cent Multi-Asset Class Mandates and 12 per cent Treasury Money Mandates.Nxumalo said the projects they were involved in include the contraction of FINCORP Headquarters Building in Mbabane as well as the United Nations Headquarters building.
“In terms of the project we have grown, there was zero but after our involvement in the UN and FINCORP projects, we have evolved,” she said.
The group CEO added that the vision was to establish a traditional and non-traditional assets management business remains.She said they had the desire of Sanlam to work with local consortium led by management.
“Sanlam not only continues to provide portfolio management and administration services for foreign assets, but continues to be a role model,” she added. Nxumalo also mentioned that the aim was to potentially list at the end of five years like Sanlam, therefore, they want to broaden local shareholder base.
