Financial services and investment group Quartile Capital has acquired 30% of South African-owned and managed transfer secretary (TS) and related business company Stakeholder Data Services (SDS). SDS’s TS systems were, this year, tested and approved by South Africa’s central securities depository Strate, allowing SDS to operate as an official TS in South Africa.
Quartile Capital CEO and Harmony Gold Mining deputy chairperson Modise Motloba was appointed director and deputy chairperson of SDS and would take over the reins as chairperson of SDS in January. “The Quartile Capital acquisition of 30% of SDS will enable us to substantially grow our business and make SDS the most transformed and indigenised financial services company in the transfer secretary and stakeholder business sector,” commented SDS MD Johan Ras.
According to Motloba, as Quartile Capital’s core business areas were Treasury services, corporate finance, infrastructure consulting, wealth and financing for small, medium-sized and microenterprises, the group’s decision to invest in SDS complemented and broadened its service offering. “Our focus is to grow the business responsibly through the deployment of other financial service offerings and forming alliance partnerships with established and reputable financial services entities thereby ensuring sustainable growth and attractive returns for our investors,” added Ras. Source: Engineering News