LISTEN TO ARTICLE
A new strategic partnership has been entered into under which Octagon Africa will serve Alexander Forbes multinational clients with a presence in Kenya. This strategic partnership comes after Alexander Forbes’ review of its strategic business and operating model in March 2019, and to exit emerging markets and strategically reposition with credible partners to deliver and support their clients operating in the specific country.
“Through this strategy we have a platform to work with a network of partners while maintaining the ability to deliver excellent service and solutions to our clients throughout the continent leveraging a single point of contact and efficient and cost effective solutions.
We believe that Octagon Africa meets Alexander Forbes’ and our clients’ requirements and are able to deliver benefits and serve our clients in Kenya said Craig Bentley, Head of Multinational Consulting at Alexander Forbes. “We commit our full support to Octagon Africa as they take the lead with our clients in Kenya and as we actualize our plan to expand our network of in-country service providers,” Bentley concluded.
Octagon will be providing pension administration, insurance brokerage, employee benefits and risk consulting services to Alexander Forbes clients operating in Kenya. The two organisations are also set to share research, global best practice and intellectual property, that will contribute to and grow the industry and the region.
“This partnership is an affirmation that we have the necessary skill set, values and culture to serve both local and international clientele by providing first class service to guarantee financial security in Africa. We shall endeavour to equip our team, deliver value for each coin paid by our clients and ensure great quality of services as we provide innovative solutions that meet our customers’ changing needs,” Octagon Africa Group Chief Executive Officer Fred Waswa. “We believe that this partnership will challenge us as a brand to diversify, expand our offering into niche services such as risk consulting services and help the financial services sector grow in the region,” he added.
Octagon Africa completed the purchase of 49 per cent stake in shareholding in Alexander Forbes Financial Services Zambia in January 2020 following the review of its strategic business and operating model to exit some in-country operations.