Kenyan firm buys Alexander Forbes stake in Zambia unitNairobi-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. “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. Besides providing financial services, Octagon also runs training programmes for retirement benefits schemes.

Source: Standard Digital December 29, 2019 21:00 UTC