Warning: count(): Parameter must be an array or an object that implements Countable in /usr/www/users/liquiggmcb/wp-includes/post-template.php on line 284

Kenyan firm buys 49% stake in Alexander Forbes Zambia unit

 In news

Nairobi-based financial services provider Octagon Africa has completed the purchase of a 49 per cent shareholding in Alexander Forbes Financial Services Zambia.

This follows an announcement on the Johannesburg Securities Exchange News Service (SENS) by Alexander Forbes Group Holdings to review its strategic business and operating model in March this year.

The refocused strategy has seen the South African-based retirement services provider exit countries such as Uganda and Zambia.

It has also disposed of some of its businesses such as property and casualty unit in South Africa.

Alexander Forbes Emerging Markets Chief Executive Officer Bonga Mokoena described Octagon Africa as “the best fit for our business” and projected a seamless transition.

“As a result of our new strategy of offering a centralised advice-led solution platform in Africa, we have decided to exit some in-country operations, including Zambia,” said Mr Mokoena. “We are glad that Octagon Africa is the best fit for our business, and we are confident of a seamless transition and our clients can be assured of excellent service as always.”

Octagon Africa Group Chief Executive Fred Waswa welcomed the buyout, terming it historic.

“Octagon Africa is delighted to mark such a historic moment in our business by buying out Alexander Forbes business in Zambia and also being the official service provider for their clients in this market. We take pride in excellent service delivery and offering innovative solutions that meet our clients’ needs,” said Waswa.

Besides providing financial services, Octagon also runs training programmes for retirement benefits schemes. Source: Standard Media

Recent Posts
Showing 6 comments
  • Like!! I blog quite often and I genuinely thank you for your information. The article has truly peaked my interest.

  • Good one! Interesting article over here. It’s pretty worth enough for me.

  • SMS

    Very good article! We are linking to this particularly great content on our site. Keep up the great writing.

  • Hi there Dear, are you truly visiting this web site regularly, if so after
    that you will definitely take good knowledge.

  • http://tinyurl.com

    What’s up, I desire to subscribe for this website to obtain hottest updates, so where can i do
    it please help out.

  • cbd oil that works 2020

    You actually make it seem really easy with your presentation but
    I to find this topic to be really one thing that I believe I would never understand.

    It kind of feels too complicated and very huge for me.
    I am looking forward in your subsequent put up, I’ll attempt to get the hold of
    it!

Leave a Comment

Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text.

Start typing and press Enter to search