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Counterparty · Custodian

Karoo Custodial Services

Karoo Custodial Services is the local custodian for South African listed securities and for the share certificates of the three South African companies IGUAKO holds through Highveld Biologics Investments (Pty) Ltd and the Mauritius platform. The relationship began in 2024 with the Johannesburg office. Karoo safekeeps US$18 million of client and proprietary positions and settles trades through the local central securities depository.

Type
Custodian
City
Johannesburg
Region
Africa & Indian Ocean
Relationship since
2024

The relationship

South African exchange control requires that share certificates of local companies stay in the country, held by an approved custodian, even when the owner is a Mauritius holding company. Karoo holds them, records the beneficial ownership, and produces the documents needed when a position is sold and the proceeds leave. Without that record, a disposal can be delayed for months.

Services to IGUAKO and its clients

  • Custody of South African listed securities
  • Safekeeping of private company share certificates
  • Settlement through the local central securities depository
  • Exchange control records for disposals

Also in the region

Africa & Indian Ocean.