PSG lists on NSX
PSG Konsult, the South African independent financial services provider which recently made its debut on the JSE, has received approval for a secondary listing on the Namibian Stock Exchange. The listing will take place on Wednesday, 16 July 2014 under the share code “KFS”. PSG Konsult is a subsidiary of JSE listed PSG Group, and has the largest independent financial advisory network in South Africa, operating since 1998. At the end of its financial year in February, the company had approximately N$112 billion in funds under management and about N$235 billion in assets under administration. PSG Konsult is structured into three operating divisions, consisting of PSG Wealth, PSG Asset Management and PSG Insure. PSG Konsult’s long established presence in Namibia was strengthened in September 2012 when the Windhoek based financial service firm, Investment House Namibia (IHN), was brought under the PSG banner as PSG Namibia.
The company’s Namibian operations with 28 employees in total currently consists of PSG Namibia, a holdings company for the stockbroking and financial planning businesses, Western National Insurance (Namibia) providing short-term insurance services, PSG Wealth Management Namibia and PSG Financial Planning Namibia. PSG Konsult Chief Executive Officer, Francois Gouws, said the primary objective of seeking a secondary listing on the Namibian Stock Exchange is to build an investment track record with Namibian investors. He said, “This is in order to provide us with maximum flexibility to execute on our long-term strategic plans, which include the expansion of our sub-Saharan Africa operations. t will also provide Namibian investors with an opportunity to invest in PSG Konsult by utilizing a portion of the prescribed investment portfolio assets. A listing in that part of the world will raise the profile of our Namibian based operations, which currently include wealth management, short-term insurance, stockbroking and financial planning.”