Sanlam owns a 68 per cent stake in Sanlam Kenya, formerly Pan African Holdings. PHOTO | COURTESY
South African financial services group
Sanlam has bought a 30 per cent stake in SA’s online stock broker Easy
Equities, which has growth plans for East Africa.
The
move by Sanlam solidifies the prospect of the South African online stock
broker, that ...
observers say has disrupted and democratised share trading for South Africans, setting up in the Kenyan and other market.
observers say has disrupted and democratised share trading for South Africans, setting up in the Kenyan and other market.
“The
EasyEquities transaction with Sanlam Investments provides our fintech
winner with added capital, skills and the ability to continue on the
path we’re on — aggressive growth in client numbers, products on the
site for client benefit and a way for all South Africans to access the
financial markets — in South Africa and excitingly also in the US,”
Purple Group’s CEO Charles Savage said.
“We also look
forward to announcing our international growth plans where the
collaboration with Sanlam Investments provides invaluable insights,
guidance and access to various jurisdictions.”
Sanlam owns a 68 per cent stake in Sanlam Kenya, formerly Pan African Holdings
.
It
completed in July the acquisition of a majority stake in Kenya’s
largest fund manager by portfolio value, PineBridge Investments East
Africa Limited.
South
Africa’s Purple Group’s online investment platform EasyEquities allows
anyone to invest in the Johannesburg Stock Exchange by accepting
investment amounts as small as Sh78.
Launched in
October 2014, EasyEquities has been successful at lowering the costs and
complexity of products to South Africans looking to open investment
accounts at whatever scale.
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