Africa’s largest asset manager, PIC oversees South Africa’s Government Employees Pension Fund. Photo Credit: Daily Nation
By The African Exponent
Africa’s investment landscape in 2025 showcases a dynamic blend of established institutions and emerging firms, reflecting the continent’s economic growth and diversification. In 2025, Africa’s wealth management market is projected to reach US$843.61 billion in assets under management.
Financial Advisory is the dominant sector, with a projected market volume of US$798.88 billion. The continent’s GDP is expected to grow, with some nations potentially exceeding 5% growth. Key sectors likely to attract investment include renewable energy, technology, and financial services.
According to the RMB Where to Invest in Africa Report, Africa is navigating significant turbulence and transformations on multiple fronts, both geopolitically and economically. It reveals that Assets under management in Africa’s wealth management market are projected to reach US$843.61 billion by the end of 2025.
In the same vein, the Q1 2025 Private Capital in Africa Activity Report revealed that Financial Advisory is expected to dominate the wealth management market with a projected volume of US$798.88 billion by the end of the year, with Africa’s average real GDP growth projected to rise to 4.1 percent—on the bedrock of the private capital investments in African infrastructure opportunities reaching US$1.3 billion in 2024.
In this article, we highlight the top 10 investment management companies in Africa, based on assets under management (AUM), regional influence, and service offerings. Check them out.
Here are the Top 10 Investment Management Companies in Africa in 2025
Note: Privately held companies, not publicly traded on any major stock exchange (as of 2025), which appear on the list are not listed entities, so they are not required to publish market capitalization data, which is usually derived from stock price and shares outstanding. Their valuation and size are often estimated based on assets under management (AUM), client base, or investment footprint—not share price data.
Market cap data is publicly available only for listed companies, such as Remgro or PSG Konsult (both traded on the Johannesburg Stock Exchange). However, for this article, we estimated valuation metrics based on industry benchmarks or known AUM, along with comparative data.
10. PSG Konsult Ltd – South Africa
Market Capitalization: $1.23 billion
Overview: PSG Konsult provides a comprehensive range of financial services, including wealth management, asset management, and insurance. The firm’s asset management division offers investment solutions tailored to individual and institutional clients.
9. African Alliance Asset Management – Pan-African
Asset Under Management: Approximately $1.7 billion (as of June 2024)
Overview: Operating across multiple African countries, African Alliance offers mutual funds, private wealth management, and institutional fund management services. The firm is recognized for its expertise in managing assets for pension funds, insurance companies, and institutional investors.
8. Volition Cap – Nigeria
Estimated Asset Under Management: Approximately $30 million
Overview: Volition Cap is a rapidly growing asset management firm focusing on alternative investments, private equity, and high-yield opportunities across Africa. The firm aims to unlock Africa’s potential by providing investors access to the continent’s thriving economic sectors.
7. Remgro Ltd – South Africa
Market Capitalization: $4.27 billion
Overview: Remgro is a diversified investment holding company with interests in various sectors, including financial services, healthcare, and infrastructure. Its asset management arm plays a significant role in South Africa’s investment landscape.
6. Ninety One – South Africa
Asset Under Management: Approximately $1.79 billion
Overview: Formerly known as Investec Asset Management, Ninety One is a global investment manager with a strong presence in Africa. The firm offers a range of investment products, including equities, fixed income, and multi-asset strategies.
5. Old Mutual Investment Group – South Africa
AUM: Significant, with a focus on sustainable investing
Overview: With over 175 years of history, Old Mutual offers equity and fixed-income solutions, infrastructure investments, and private equity services. The firm emphasizes sustainable and impact investing strategies.
4. Sanlam Investments – South Africa
AUM: Substantial, as a subsidiary of the Sanlam Group
Overview: Sanlam Investments provides a broad spectrum of investment services, including asset and wealth management, alternative investments, and infrastructure funds. The firm caters to both retail and institutional clients across Africa.
3. Coronation Fund Managers – South Africa
AUM: Over R600 billion (~$32 billion)
Overview: Established in 1993, Coronation is a leading asset manager offering a range of investment solutions, including equity and fixed-income funds. The firm serves both individual and institutional investors, emphasizing long-term wealth creation.
2. Allan Gray – South Africa
AUM: Significant, with a strong presence across Southern Africa
Overview: Founded in 1973, Allan Gray is renowned for its long-term investment approach and client-centric philosophy. Operating in South Africa, Namibia, and Botswana, the firm offers mutual funds, institutional asset management, and retirement planning services.
1. Public Investment Corporation (PIC) – South Africa
AUM: Approximately $169 billion
Overview: As Africa’s largest asset manager, PIC oversees South Africa’s Government Employees Pension Fund. Its diversified portfolio spans mining, agriculture, real estate, and financial services. In 2024, PIC partnered with UAE’s International Resources Holding to invest in South Africa’s infrastructure and green energy projects.