Nairobi headquartered Pension manager Octagon Africa has purchased 49 per cent stake in Alexander Forbes financial services Zambia for an undisclosed amount.
Alexander Forbes Group had earlier in March 2019 announced reviewing of its strategic business and operating model. Therefore, the new strategy entails offering centralised advice-led solutions in Africa.
In this case, Alexander Forbes has exited some in-country operations including Zambia where Octagon Africa will take over former’s clients and services.
Octagon is hoping to expand its scope beyond Kenya and Uganda where it offers pension, actuarial services, and insurance brokerage.
According to Fred Waswa, Octagon Africa Group CEO, the firm will offer innovative solutions to Zambian market. Moreover, for the last 12 years, Octagon has built its reputation through leveraging on technology with over 200 corporate clients.