IN an initiative to expand access of financial services in the country, Sanlam Investments East Africa Limited (SIEAL) has Strengthened its Regional Presence in the country as it unveils the ‘Sanlam Money Market Fund.’

The capital fund was unveiled in Dar es Salaam yesterday presided over by Jonathan Stichbury, Managing Director & CEO, of Sanlam Investments East Africa Limited.

Officiating the event, Nicodemus Mkama, Chief Executive Officer of Capital Markets and Security Authority (CMSA) underscored the government’s commitment to continue providing an enabling environment for promoting development of sustainable, inclusive and more diversified capital markets.

“Today marks a significant step forward in Tanzania's financial sector as we gather to celebrate the expansion of Sanlam Investments East Africa into our country. This is a clear indication of our commitments in promoting development of the capital markets in Tanzania and the East African Community (EAC) Region at large,” he said.

According to him, the funds aim at facilitating Tanzanians from various spectrum of the economy, including youth, women, special groups, institutions, and social security funds, to benefit from investments in the capital markets; promote saving culture and investment; and empower citizens to participate in various productive activities in the economy.

He added: “We welcome Sanlam Investments East Africa Limited with open arms. Their decision to establish offices here signifies more than just a business expansion; it represents a vote of confidence in our country's stability, growth prospects, and capital markets.”

Jonathan Stichbury, SIEALManaging Director and CEO remarked that Tanzania holds immense potential with its growing economy as one of Africa’s fastest growing nations and as a firm dedicated to maximizing the clients' value investments thus representing an opportunity to be part of the vibrant financial markets in Tanzania. 

“SIEAL will align with Tanzania's broader economic goals of promoting financial inclusion and deepening the capital markets. By encouraging savings and investment within the country, the company seeks contribute to the economic growth of Tanzania and create a more prosperous future for all Tanzanians,” he underlined.

Mr Julius Magabe, Chairman – Sanlam Investments East Africa Limited and CEO for Sanlam Life Tanzania also underlined that Sanlam has over 45 years’ experience in the Tanzanian market providing robust and diversified financial solutions that has represented their commitment to expanding financial opportunities and empowering Tanzanians to build a secure financial future.

With over 25 years of experience in East Africa, Sanlam Investments East Africa Limited has a proven track record of investment performance and record service delivery in East Africa managing over USD 3.7 Billion in Assets Under Management (AUM) as at 30th June 2024.