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Insignia Expands Into Southern Africa

NEW YORK CITY-Insignia Financial Group has signed an agreement with Cape Town-based Broll Property Group that will extend Insignia's reach throughout South and Sub-Saharan Africa, including Madagascar, Seychelles, Mauritius and Comores.

By Glen Thompson | Updated on October 25, 2002

NEW YORK CITY-Insignia Financial Group Inc. is staking out new territory with an expansion into Southern Africa. The company has signed an agreement with Broll Property Group that will extend Insignia’s reach throughout South and Sub-Saharan Africa, including the Indian Ocean Islands of Madagascar, Seychelles, Mauritius and Comores.

“This is an excellent opportunity to secure a relationship with the No. 1 property services firm in South Africa,” says Alan Froggatt, chief executive of Insignia in Europe. “Not only will this increase our ability to service multi-national corporates, but in addition we anticipate significant flows of investment monies into international markets.”

Established in Cape Town in 1974, Broll has offices in Durban, Johannesburg, Port Elizabeth and Pretoria. The firm is jointly owned by South African black empowerment company Mvelaphanda Strategic Investments, its employees and South African bank Nedcor. Its range of expertise includes property management, brokerage, property services and consulting to the retail, industrial and office markets.

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