Afena Capital Botswana, the local investment management firm will be changing its name to Kgori Capital, reflecting its proud origin of Botswana and its position as one of the country’s foremost asset management firms.
In a statement, the company said the new name is inspired by Botswana’s national bird, the Kgori while it also coincides with the expansion of Afena Capital Botswana’s businesses into other areas of the financial industry.
The rebrand does not extend to the company logo, which will continue to be a stylised version of the existing Afena Capital one, a symbol of its values of excellence. The new identity will extend to new businesses that Kgori will be introducing to the Botswana market.
For Afena Capital Botswana management, the rebranding is the next step in the growth of the business. Afena has seen its client base grow over 22 institutional clients over the past four years, with corresponding assets under management approaching the P7 billion mark. This growth has been supported by client diversity and the offering of different asset classes.
“The Afena brand has been highly successful in Botswana and received a lot of support. It has done well in
However, given the challenges of building a successful investment management firm, in a space dominated by non-indigenous investment managers (majority South African owned firms), we view the new Kgori Capital brand as a source of Botswana’s national pride.
We are truly excited about this new name. While many just see a bird, we see what it represents: strategy, community and a fierce insight,” said Afena Capital Botswana management.
Last year, management at Afena took over total control of the firm, in a deal that IS seen as a triumph for citizen empowerment in an industry dominated by foreign controlled firms.
In the transaction, the local management team acquired an additional 51% in the Botswana firm from South African parent company, Afena Capital.
The asset management firm started operations in Botswana about five years ago with Bakang Seretse as the managing director, Alphonse Ndzinge (chief investments officer) and Sharifa Noor (chief operations officer).