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Bloomberg

Standard Bank's Asset Manager Eyes East Africa Growth

Africa's biggest bank plans to grow the market share of its asset management business in East Africa to take advantage of the continent's fastest growing region. Standard Bank Group Ltd. intends to scale up its fund management units in Kenya and Uganda, started in the past two years, to become 'real competitors,' said Derrick Msibi, head of asset management at the lender and chief executive officer of Stanlib Asset Management Pty Ltd.