In this financial year the group will also focus on growth opportunities in Zambia and Uganda.Alexander Forbes's annual report for the year ended March 2013 shows the company's presence in Botswana, Kenya, Malawi, Mauritius, Namibia, Nigeria, South Africa, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe.The African operation is referred to as AfriNet.Namibia contributes 47 percent of the net revenue to AfriNet, followed by Botswana at 33 percent, Kenya at 17 percent and Nigeria at 2 percent.
In light of the growth opportunities in Africa, there is room for Alexander Forbes to expand AfriNet, it says.AfriNet is the smallest revenue contributor within the group, with net revenue of R202m in the year to end-March 2013.Alexander Forbes Financial Services is the largest revenue contributor in the group, with net revenue of R1.6bn.The group's income from continuing operations was R4.4bn in the year to end-March.The company has been disposing of what it regards as noncore assets ahead of an expected exit of its private equity shareholders, Actis and Ethos.
