At a Glance
- Africa’s asset managers steer pensions, sovereign funds, and long-term investment across major economies.
- South Africa dominates in terms of scale, while Nigeria emerges as West Africa’s fastest-growing hub.
- Pension reforms and rising savings are fueling asset managers’ expanding influence across the continent.
Africa’s asset management industry has quietly become one of the continent’s most influential financial engines, stewarding hundreds of billions of dollars across pensions, sovereign wealth, equities, fixed income, and alternative assets.
As governments deepen capital markets and institutional savings grow, asset managers now sit at the heart of Africa’s long-term wealth creation and economic stability.
Driven by pension reforms, rising middle-class savings, and expanding sovereign funds, Africa’s leading asset managers play a pivotal role in financing infrastructure, stabilizing markets, and channeling global capital into local economies.
South Africa dominates the industry by scale, anchored by state-backed and globally integrated firms, while Nigeria has emerged as West Africa’s most dynamic asset management hub, powered by pension assets and retail mutual funds.
Shore Africa profiles 10 of Africa’s largest and most influential asset managers, shaping capital flows, protecting wealth, and defining the continent’s financial future.
1. Public Investment Corporation (PIC)
Country: South Africa
AUM: over $170 billion
Africa’s largest asset manager, overseeing about $169 billion, primarily for South Africa’s Government Employees Pension Fund, with deep exposure to equities, bonds, infrastructure, and unlisted assets.
2. Ninety One
Country: South Africa
AUM: $213.81 billion
A globally listed investment firm with African roots, managing £159.8 billion ($213.81 billion) AUM across emerging-market equities, fixed income, and multi-asset strategies, serving institutional and global investors.
3. Allan Gray
Country: South Africa
One of Africa’s most respected private asset managers, known for long-term value investing across equities, balanced funds, and retirement solutions in multiple African markets.
4. Wafa Gestion
Morocco’s biggest asset manager is Wafa Gestion, consistently recognized as the market leader with a significant share, owned by Attijariwafa Bank and Amundi, managing a large portfolio of funds and mandates with substantial assets under management (AUM). Wafa Gestion was recognized in May 2025 by the London Stock Exchange Group (LSEG) as the best asset management company in the MENA region in the Domestic Mixed Assets Funds category over 3 years. In 2025, Wafa Gestion is ranked the 11th most important asset management company in the MENA Region according to Forbes
4. Old Mutual Investment Group
Country: South Africa
A diversified investment powerhouse managing multi-asset, alternative, and impact strategies, with strong pension, institutional, and retail penetration across Africa.
5. GenAfrica Asset Managers
Country: Kenya
AUM: $5.5 billion
GenAfrica Asset Managers is currently Kenya’s largest fund manager by Assets Under Management (AUM), reclaiming the top spot by the end of 2023 with KSh375.89 billion ($264.77 million), surpassing Sanlam Investments, according to Retirement Benefits Authority (RBA) data. With 3 decades of experience, overseeing investment funds in excess of $5.5 Billion with over 100 clients. Our client portfolios consist of fixed-income securities, equities, offshore investments or a mixture of all three (multi-asset portfolios) and real estate portfolios.
6. Sanlam Investments
Country: South Africa
AUM: R1 trillion ($60.8 billion)
Part of Sanlam Group, offering extensive fixed income, equity, real asset, and private market solutions, with a growing pan-African footprint.
7. Coronation Fund Managers
Country: South Africa
A leading active manager focused on equities and multi-asset portfolios, serving institutional and retail investors across Africa and global emerging markets.
8. CI Capital Asset Management (CIAM)
Country: Egypt
AUM: exceeded EGP 102 billion ($2.15 billion) as of June 2025.
CI Capital Asset Management (CIAM) is Egypt’s leading asset manager and one of the largest in the region, a Forbes Middle East Top 30 Asset Manager. CIAM manages the equivalent of approximately $1.5 billion in mutual funds and discretionary portfolios for institutional clients, including banks, insurers, pension providers, sovereign wealth funds and government-related entities, as well as wealth management partners.
9. Absa Asset Management
Country: South Africa
Backed by Absa Group, providing institutional-grade fixed income, equity, and multi-asset solutions across Southern and East Africa.
10. Stanbic IBTC Asset Management
Country: Nigeria
Nigeria’s largest asset manager, overseeing N841 billion, offering mutual funds, portfolio management, and pension-linked investment solutions. Stanbic IBTC Asset Management crossed a major milestone by surpassing N1 trillion ($704 million) in Assets Under Management (AUM) in late 2023.
