Adansonia Group Update
Please find below, an update on the Adansonia Group, in particular recent Singapore initiatives.
From an Adansonia Management Services Limited (“AMS”) perspective in Mauritius, a number of ongoing issues are influencing investor sentiment i.e. recent SA issues, Zambia election uncertainty, Ethiopia Tigrayan escalation and COVID related issues. That said, we are hoping that Mauritius will be off the EU blacklist in October and this could provide some renewed impetus. AMS has weathered the COVID imposed stress very well and we are thankful to Zain and her team who have maintained great service levels throughout.
Our Singaporean efforts are coming together despite Singapore’s “heightened alert phases” caused by domestic outbreaks of COVID. The positive vaccination drive in Singapore should see a gradual opening up post the 18th August 2021.
- Our corporate service provider business, Adansonia Management Services (Singapore) Private Limited, is now open for business and we will be offering Singaporean entity incorporation and ongoing management services, as a Registered Filing Agent;
- We have submitted our application to the Monetary Authority of Singapore for the licencing of Adansonia Fund Manager Private Limited, as a registered Fund Management company (“RFMC”). We will also be redomiciling our permanent capital vehicle Adansonia PE Opportunities Limited into Singapore as a Variable Capital Company (“VCC”) once the RFMC license is granted;
- Having been through the process above, we believe that Singapore is a very attractive alternative to Mauritius and other Fund jurisdictions and would be happy to discuss the RFMC and VCC solution;
- In conjunction with the South African Chamber of Commerce in Singapore, an African focussed initiative, called “Connect Africa” has been launched; more details can be found at Connect Africa | South African Chamber of Commerce Singapore (sacham.sg). Its aim is to link professionals and firms in South East Asia (specifically Singapore), with an interest in Africa, into a practical working group with an aim to share experience and collaborate on African opportunities.
If you have any Mauritian or Singaporean requirements, please do not hesitate to get in touch, we would be glad to assist. We would be very interested to hear from you about specific challenges posed by global events, and how you are facing it. Feel free to drop me an email –Brendon.Jones@adansoniaholdings.com.