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.
Under the news partnership, 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.
Speaking during the partnership ceremony, Octagon Africa Group Chief Executive Officer Fred Waswa expressed optimism that the partnership will help the financial services sector grow in the region.
“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,” said Waswa.
On his part, Craig Bentley, Head of Multinational Consulting at Alexander Forbes committed to support Octagon Africa as they actualize their plan to expand their network of in-country service providers.
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 Bentley.
“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,” He added.
Octagon Africa completed the purchase of 49 percent 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.