News

Milestone Group in Africa fund technology venture

Handshake 3Milestone Group, a technology provider for asset managers, hopes to win clients in Africa with a new joint venture with Global ASP, a South African technology firm.

The new venture, pControl Africa, will operate from an office in Cape Town and initially focus on South Africa before broadening its focus to the wider continent.

The firms says pControl Africa will combine Global ASP's hosting, consulting, disaster recovery and business continuity services with Milestone's technology, which serves asset managers, pension funds, insurance firms and other investors.

Robert Chung, managing director of the joint venture, says Africa is "a marketplace with many regional nuances and unique local requirements, hence the importance of the local company presence alongside the ability to leverage global expertise that we have combined in pControl Africa".

Milestone Group and Global ASP have already collaborated to provide hosted technology services to the African retirement market.

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