Ninety One snaps up Sanlam Allianz book
Ninety One Namibia and Sanlam Allianz Namibia announced the proposed transaction on Wednesday, saying the enlarged business would operate under the Ninety One Namibia brand and that the Sanlam Allianz Namibia group of companies would appoint it as their primary active asset manager for an initial 15-year term.
The agreement mirrors a broader strategic relationship between Sanlam Limited and Ninety One announced in South Africa in November 2024.
The transaction remains subject to shareholder and regulatory approvals, including sign-off from the Namibia Competition Commission and the Namibia Financial Institutions Supervisory Authority (NAMFISA). Completion is expected in the second half of 2026.
Under the terms of the deal, Sanlam Allianz Namibia will also gain access to selected private credit and specialist credit strategies focused on local opportunities.
Ninety One Namibia MD Eino Emvula said the combination represented a strong vote of confidence in the country's investment industry.
"The enlarged Ninety One Namibia will combine local expertise with global investment capabilities, enabling us to meet the evolving needs of our clients and support the growth of Namibia's financial markets," he said.
Thabo Khojane, Ninety One's MD for Africa, pointed to a long-standing structural problem in the Namibian economy that the deal sought to address, namely that domestic savings exceed gross domestic product (GDP) yet much of that capital has not found its way into productive local investments.
"The proposed strategic relationship seeks to help close that gap," Khojane said, adding that the enlarged business would have greater capacity to channel savings into private markets and infrastructure — sectors he described as essential to unlocking growth and job creation.
Tertius Stears, Group Chief Executive of Sanlam Allianz Namibia, said the partnership would strengthen the group's position as a multi-skilled asset manager, citing Sanlam Allianz Investments' expertise in passive and alternative asset classes and multi-managed solutions.
"The relationship is set to unlock value for its clients, distribution force and shareholders," Stears said.
