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THE AIH AND AIH CAPITAL TEAMS ARE PROUD OF OUR ACQUISITION OF A SIGNIFICAT MINORITY STAKE IN FUTUREGROWTH ASSET MANAGEMENT. 

March 2022

On the 3rd of March 2022, Futuregrowth Asset Management (Pty) Ltd (Futuregrowth) and Old Mutual Investments Holdco has announced the signing of a Share Sale Agreement for the acquisition of 21.2% of Futuregrowth shares by AWCA Investment Holdings (Pty) Ltd (AIH)

The Transaction – which is subject to some conditions precedent, including the receipt of regulatory approval – will see a special purpose vehicle owned by AIH and AIH Capital (Pty) Ltd purchasing the Futuregrowth shares from Old Mutual Investments Holdco.

“We are truly honoured to be partnering with an asset manager that made its mark as a responsible investor many years before the recent emergence of the ESG movement. We look forward to continuously making a positive impact in our country as we together serve Futuregrowth’s clients and grow the business.” Say Sindisiwe Mabaso- Koyana who is the founder and chairperson of AIH, as well as Managing Partner of AIH Capital

AWCA has been instrumental in helping to transform the sector, particularly by supporting aspiring black female CA candidates with the added aim of creating the next generation of leaders and captains of industry. Like Futuregrowth, AWCA believes that investing in education and skills development will reap the long-term benefits of an increase in scarce skills, as the beneficiaries of this investment will ultimately contribute to increased productivity – either as employees or business owners

Futuregrowth Asset Management is a leading fixed interest investment company that manages around R193 billion (+/- US$12 billion) * of assets on behalf of its investors, which are predominantly South African retirement insurance and retail funds. Futuregrowth has been part of the South African asset management landscape since 1995 and is an affiliate of the Old Mutual Investments Holdco (OMI). OMI has been the majority shareholder of Futuregrowth since 2008.

Ms Jesmane Boggenpoel who is director at AIH and Managing Partner at AIH Capital had this to says: “The AIH/ Futuregrowth deal is a flagship deal for us, as our first deal for our new Private equity fund and as an acquisition in a leading & well-respected asset manager.”

Ends

 

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Precious Sibiya CA (SA) (Non-Executive Director)

Precious Sibiya CA (SA) Precious is an accomplished executive and non-executive director with many years of experience in various leadership roles. She has more than 20 years corporate experience in finance, risk management, financial management, supply chain management and compliance. She is a seasoned professional who has worked in various roles across diverse industry sectors (viz logistics, energy, financial services, insurance, consulting) within private and public sectors. Her roles range from Internal auditor, Risk manager, General Manager Finance to Internal Audit Director.

She has served and continues to serve on various boards and audit committees in the roles of Board member, chairman, deputy chairman and committee member.

Her current boards and committee engagements are Ithala Development Finance Corporation, AIH, Ethekwini Municipality, National Credit Regulator,  Ekurhuleni Municipality, Financial Intelligence Centre and Reef Tankers (Pty) Ltd.

She has previously served on the boards and/or audit committees of Sentech, SkX, Parliament of South Africa, Gauteng Provincial Government, National Gambling Board, AWCA, Union Life, NEHAWU Investment Holdings (NIH), South African Reserve Bank Captive Insurance Company Limited (SARBCIC) , City of Johannesburg, Eskom Finance Company and Eskom subsidiaries in Africa (Umeme Ltd in Uganda, Elgas in Mozambique), amongst others.

Precious is a member of the South African Institute of Chartered Accountants and African Women Chartered Accountants. She completed her articles at Deloitte in Durban where she qualified as a Chartered Accountant. She is also a registered business rescue practitioner.

She is passionate about community development especially programmes involving children and rural women.