Financial services provider, Alexander Forbes East Africa Limited has adopted a new corporate identity, Zamara, following the change of ownership that has resulted in Alexander Forbes Group of South Africa reducing its stake in the company.
The company, which has been the leading financial service since 1994 has rebranded and set its sights on African markets as it seeks to capitalise on the growing demand for insurance, brokerage and similar services on the continent.
Zamara Group Chief Executive Officer Sundeep Raichura said that the firm has already identified regional markets where it will expand operations.
Speaking at the launch which happened at the Intercontinental Hotel, Mr. Raichura, the group CEO said that the company is now setting its eyes on a Pan African expansion.
“We are in the process of establishing a presence in Rwanda and Nigeria and will be looking at further opportunities in East, West and Southern Africa to expand our business model.”
For Kenya, Mr. Raichura added that Zamara is exploring alternative and new long-term savings strategies that would increase uptake of products for financing home ownership, medical care, education and retirement plans.
He also noted that the company understands the importance of promoting a savings and protection culture in Africa and empowering individuals and businesses through innovative, yet relevant financial and insurance solutions that meet their needs.
Also in attendance was Mr. Adan Mohammed, the Cabinet Secretary for Trade and Industrialization.
Mr. Mohammed expressed that the average Kenyan invests 20% towards their pension and he also stressed the need to have all employers register their employees in to retirement benefit scheme, to enable more Kenyans live well into their retirement.
He also noted that insurance penetration in Kenya was at 3% and there was need for more Kenyans to take up insurance packages.
Zamara Group was formed to create a financially secure and prosperous society.
Their main products include;
- Actuarial services with includes retirement arrangement and benefits consulting
- Investment consulting
- Retirement fund administration
- Employee benefits
- Corporate Insurances
- Personal finance solutions
- They also have SME solutions for Small and Medium Enterprises to meet their insurance and employee benefits requirements. The work with you to structure relevant and specific solutions to small business players.
With the new corporate identity, the leadership will remain unchanged with Board Chairman Mr Michael Waweru, Group Chief Executive Sundeep Raichura and Executive Director James Olubayi.
The rebrand also symbolizes a celebration of who we are as Kenyans and a seal of maturity grounded on the Kenyan heritage.