London-listed M&G is eyeing new growth opportunities in Africa after upping its holding in Cape Town-based Prudential Investment Managers to a majority stake that will see the local outfit renamed to reflect its parent firm’s identity.

Prudential will rebrand to M&G Investments by year-end as the UK firm seeks to bolster its brand presence in Southern Africa. The UK financial services group increased its stake in Prudential from 49.99% to 50.12% after receiving regulatory approval for the ownership change in a transaction concluded on July 9 2021...

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