ICEA Lion has signed a deal to acquire Stanlib Kenya at an estimated value of Sh1.5billion which is likely to replace Sanlam Investments East Africa as the largest asset manager.
Survey shows that Sanlam was managing Sh277 billion as of December 2018 while Stanlib and ICEA managed Sh135billion and 143billion respectively.
This means ICEA and Stanlib combined will be able surpass the assets managed by Sanlam when the deal becomes fully sealed.
