Mcebisi Jonas-led consortium becomes Apex Group’s new BEE partner
The value of the transaction was not disclosed
16 October 2023 - 11:38
by Andries Mahlangu
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A consortium jointly led by former deputy finance minister Mcebisi Jonas has bought a minority stake in multinational financial services provider Apex Group’s SA operations.
The consortium will become a new broad-based black economic partner in SA, replacing Ditikeni Trust which sold its stake to end a 16-year relationship with Apex SA.
The value of the transaction was not disclosed.
Jonas serves as chair of MTN Group and is a non-executive director of several companies including Sygnia Asset Management and Northam Platinum. He heads Ntiso Investment Holdings.
“We see this as a milestone entry into the financial services sector for Ntiso Investment Holdings, and we look forward to working with [CEO] Peter [Hughes] and the Apex Group, as we jointly drive meaningful growth and development in the SA financial services sector,” Jonas said in a statement on Monday.
Noluthando Gosa, founder and CEO of privately owned investment group Akhona, is part of the new consortium of investors.
Gosa was the commissioner of the National Planning Commission that drafted SA’s economic blueprint, the National Development Plan and Vision 2030.
She serves and has served on the boards of a number of companies including as independent non-executive chair of Verimark Holdings, non-executive director of AON SA, and NinetyOne, which was previously known as Investec Asset Management.
“We fully support this transaction and look forward to working closely with our new investors as we continue to unlock opportunities for growth and build strategic hubs in Sub-Saharan Africa to access the abundant pools of talent that we need to support both our African and global client bases,” said Peter Hughes, Apex’s founder and CEO.
“We look forward to further enhancing our technology-enabled solutions to service the asset management industry across Africa.”
Earlier this year, Apex bought the Efficient Group.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Mcebisi Jonas-led consortium becomes Apex Group’s new BEE partner
The value of the transaction was not disclosed
A consortium jointly led by former deputy finance minister Mcebisi Jonas has bought a minority stake in multinational financial services provider Apex Group’s SA operations.
The consortium will become a new broad-based black economic partner in SA, replacing Ditikeni Trust which sold its stake to end a 16-year relationship with Apex SA.
The value of the transaction was not disclosed.
Jonas serves as chair of MTN Group and is a non-executive director of several companies including Sygnia Asset Management and Northam Platinum. He heads Ntiso Investment Holdings.
“We see this as a milestone entry into the financial services sector for Ntiso Investment Holdings, and we look forward to working with [CEO] Peter [Hughes] and the Apex Group, as we jointly drive meaningful growth and development in the SA financial services sector,” Jonas said in a statement on Monday.
Noluthando Gosa, founder and CEO of privately owned investment group Akhona, is part of the new consortium of investors.
Gosa was the commissioner of the National Planning Commission that drafted SA’s economic blueprint, the National Development Plan and Vision 2030.
She serves and has served on the boards of a number of companies including as independent non-executive chair of Verimark Holdings, non-executive director of AON SA, and NinetyOne, which was previously known as Investec Asset Management.
“We fully support this transaction and look forward to working closely with our new investors as we continue to unlock opportunities for growth and build strategic hubs in Sub-Saharan Africa to access the abundant pools of talent that we need to support both our African and global client bases,” said Peter Hughes, Apex’s founder and CEO.
“We look forward to further enhancing our technology-enabled solutions to service the asset management industry across Africa.”
Earlier this year, Apex bought the Efficient Group.
mahlangua@businesslive.co.za
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