Japanese investment bank Nomura said in a statement published on March 22, it will open a branch in Cape Town, South Africa, as it aims to take advantage of growth opportunities in sub Saharan Africa. “The new branch which is to open on April 4 will focus on providing a relevant and tailored range of investment banking and risk solution services to further support its current and new clients in the region,” said the bank’s statement.  

“South Africa is a key economic hub on the African continent and global investors and corporates are increasing investment in the region,” the statement added.

Nomura appointed Jan Newman and Ben Lowther‚ founders of South African merger-acquisition consulting firm Newman Lowther & Associates to head up the new branch.

Cited by South African daily Business Day, Jan Newman said the Tokyo-based bank counts mainly on its strong foot-print in Asia to get its share of Africa’s merger-acquisition market. “Nomura will still face a stiff competition in Africa; however, its Asian heritage and market-leading presence in Japan and Asia represents a key differentiator,” Mr Newman said.

Nomura became a significant bank in the investment industry after acquiring most assets of American group Lehman Brothers in Asia, Europe and Middle East, in 2008.