• About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud
Saturday, July 2, 2022
  • Login
  • Register
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Lifestyle
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
  • Calendar
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Lifestyle
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
  • Calendar
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

Prudential Plc to set up at Nairobi’s International Financial Hub

Jackson OkothbyJackson Okoth
July 28, 2021
in Global News, Investment, Kenyan News
Reading Time: 3 mins read

Prudential Plc, one of the UK’s oldest underwriter brands, has applied to become one of the Nairobi International Financial Centre’s anchor clients.

Prudential, listed in London, Hong Kong, Singapore and New York, has operations in Asia and Africa and provides life and health insurance, retirement and asset management solutions.

It has 17 million life customers in its Asia and Africa businesses.

ADVERTISEMENT
Prudential Plc’s presence in 8 African Countries

Prudential Plc has 8 offices in Africa including Kenya, Ghana, Uganda, Zambia, Nigeria, Cameroon, Côte d’Ivoire, and Togo, with over one million customers.

Prudential’s application was submitted alongside the inking of a memo between the NIFC and TheCityUK, riding upon the partnership between the UK and Kenya signed last year.

The underwriter made its application at the Mansion House in London, attended by President Uhuru Kenyatta and UK foreign secretary Dominic Raab, UK Minister of State for Africa James Duddridge and UK Economic Secretary to the Treasury John Glen.

Also in attendance was Kenyan Treasury Cabinet Secretary Ukur Yatani Kanacho, Lord Mayor of London William Russell, and CEOs and Chairs of leading UK financial institutions.

According to Vincent Rague, Chair of Nairobi International Financial Centre(NIFC), Prudential’s application and the MoU with TheCityUK highlights the potential of NIFC as a leading financial services centre in Africa.

According to Shriti Vadera, Chairperson of Prudential plc, Africa is an integral part of the underwriter’s growth plans, offering many opportunities for innovation.

She added that joining the Nairobi International Financial Centre will support the deepening of the financial sector across Africa, build economic resilience and support the development and growth of the financial industry across the continent.

The NIFC, which aims to raise over US$ 2 Billion in investments by 2030, is offering local and foreign investors a progressive legal and regulatory framework, competitive financial and economic incentives and a vibrant financial ecosystem.

The Centre has been developed with financial and technical assistance from the UK with key stakeholders in the public and private sector, including Financial Sector Deepening (FSD) Africa and Financial Sector Deepening (FSD) Kenya.

The Nairobi International Financial Centre Act was passed in 2017, enabling the formation of the NIFC Authority.

Detailed technical and legal work on the terms and conditions of the NIFC has been completed, and draft regulations have been prepared and shared for public consultation.

Meanwhile, the Memorandum of Understanding (MoU) between TheCityUK and the NIFC will give the centre access to the industry-led body representing UK-based financial and related professional services.

According to Miles Celic, CEO of TheCityUK, Kenya is well-positioned to develop Nairobi as a solid financial centre. The MOU thus offers support to NIFC’s ambitious plans.

UK’s financial sector contributes over 10% of the country’s GDP and offers employment to over 2.3 million people, most of these jobs outside the city of London.

The MoU between NIFC and TheCityUK builds on Britain’s long-standing support for capacity building in Kenya’s financial sector – primarily channelled through FSD Africa and FSD Kenya, which have played a foundational role in establishing NIFC.

ALSO READ: Prudential Unveils Extra Benefits To Shelter Clients Against COVID-19


Hisa App Hisa App Hisa App
Previous Post

ILAM Fahari I-Reit Half-Year Profit Down 51% to KSh42.2 Million

Next Post

Centum Investment Makes Changes on its Leadership Team

Related Posts

Standard Chartered Women in Tech

Announced; The Top 10 Startups Joining Standard Chartered’s Women in Tech Incubator

July 2, 2022
France's Inflation Rises to 5.8% in June

France’s Inflation Rises to 5.8% in June

July 1, 2022

Air France KLM Pays €277 Million Debt, its Last Portion of Loans from the Netherlands Gov’t

July 1, 2022

GoK Sets August 6 as Deadline for Importing Maize under New Tax Waivers

July 1, 2022

Mobile Phone Prices to Increase after New 10% Excise Duty

July 1, 2022

Maize Flour Prices to Decline by Ksh 2 as Govt Levies Relief

July 1, 2022

Relief as Government Cuts Taxes on Cooking Gas by 50%

July 1, 2022

Further Increase in Food Prices Pushes Kenya’s Inflation Rate to a 5-Year High of 7.9%

July 1, 2022
Load More
Next Post
Centum

Centum Investment Makes Changes on its Leadership Team

ADVERTISEMENT

Follow Us

  • 139.2k Followers
  • 2.4k Subscribers
  • 1.1k Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Upcoming Events

Jul
11
Mon
all-day British American Tobacco Uganda ...
British American Tobacco Uganda ...
Jul 11 all-day
Payment of recommended dividend of Ushs 209.00
Jul
15
Fri
all-day Nairobi Securities Exchange Divi...
Nairobi Securities Exchange Divi...
Jul 15 all-day
 
Jul
22
Fri
all-day Umeme Plc Dividend Payment
Umeme Plc Dividend Payment
Jul 22 all-day
Umeme Plc Dividend Payment of Ush 54.10 per share
1:35 pm Umeme Limited Dividend Payment
Umeme Limited Dividend Payment
Jul 22 @ 1:35 pm – 2:35 pm
 
Jul
24
Sun
all-day Total Energies Book Closure
Total Energies Book Closure
Jul 24 all-day
 
Jul
25
Mon
all-day Jubilee Holdings Dividend Payment
Jubilee Holdings Dividend Payment
Jul 25 all-day
 
View Calendar
Add
  • Add to Timely Calendar
  • Add to Google
  • Add to Outlook
  • Add to Apple Calendar
  • Add to other calendar
  • Export to XML

Featured

No Content Available

About Us

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe. Kenyanwallstreet.com is a property of Hisa Technologies Ltd, a financial media & software company.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud

Copyright 2021. Hisa Technologies. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2021. Hisa Technologies. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In