All conditions precedent to the transaction are now fulfilled with 1 November 2022 as the effective date thereof.
The acquisition of Sanlam Life’s employee-benefits' standalone administration business will increase the active membership of its retirement-fund administration base by up to 40%.
This is creating the capacity for Alexforbes to positively impact more members by scaling digital developments, delivering administration efficiencies and implementing its market-leading member-engagement strategy including financial advice across this base.
As a result of this and other recent acquisitions including EBS International, Alexforbes is now best positioned within the market to manage the increasing costs of regulatory compliance, member engagement and technological innovation competitively, efficiently and sustainably to benefit members.
Dawie de Villiers, chief executive officer of Alexforbes, says: "Clients can take full confidence in Alexforbes’s commitment to and continued investment in retirement-fund administration to deliver exceptional service and improved value to members within both stand-alone and umbrella funds."