UAP Old Mutual Group is a financial services
conglomerate that maintains its headquarters in
Kenya, with subsidiaries in
Uganda,
Tanzania,
South Sudan,
Rwanda
Rwanda (; rw, u Rwanda ), officially the Republic of Rwanda, is a landlocked country in the Great Rift Valley of Central Africa, where the African Great Lakes region and Southeast Africa converge. Located a few degrees south of the Equator ...
and the
Democratic Republic of the Congo.
Location
The headquarters of UAP Old Mutual Group are located in the 33-storey
UAP Old Mutual Tower
UAP Old Mutual Tower is a 33-storey office complex in the Upper Hill neighborhood of Nairobi, the capital and largest city in Kenya. It became the tallest structure in Kenya upon its completion in 2015, surpassing Times Tower which had held that ...
, located on ''Hospital Road'', in
Upper Hill,
Nairobi, about , southwest of the city's
central business district
A central business district (CBD) is the commercial and business centre of a city. It contains commercial space and offices, and in larger cities will often be described as a financial district. Geographically, it often coincides with the "city ...
. The coordinates of the company headquarters are: 01°17'56.0"S, 36°49'10.0"E (Latitude:-1.298889; Longitude:36.819444).
Overview
In 2014 Old Mutual acquired a controlling 67 percent interest in Faulu Kenya, the second-largest microfinance bank in Kenya, whose
stock
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...
is privately held, for a sum of KSh3.6 billion (approx. US$40 million).
In early 2015, Old Mutual, spent a total of US$253.1 million (KSh 23.1 billion) to acquire 60.66 percent shareholding in
UAP Holdings. Later in 2015, Old Mutual began to consolidate all its investments in Kenya under one company, namely the "UAP Old Mutual Group". The integration involves (a) UAP Holdings, in which Old Mutual owns 60.66 percent (b) Faulu Kenya, in which Old Mutual owns 67 percent and (c) the legacy businesses of Old Mutual Kenya, in which Old Mutual maintains 100 percent shareholding.
UAP Old Mutual plans to list its shares on the
Nairobi Securities Exchange (NSE) in 2018, after the mergers are concluded.
Governance
The group is governed by a 14-person board of directors chaired by Dr. Joseph Barrage Wanjui, a shareholder in the business. The
Group CEO
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
is
Peter Mwangi, a certified public accountant and a chartered financial analyst.
See also
*
UAP Holdings
*
Faulu Kenya
*
Old Mutual
References
External links
{{portal, Companies
Website of UAP Old Mutual Group
Financial services companies of Kenya
Companies based in Nairobi
Conglomerate companies of Kenya
Financial services companies established in 2015
2015 establishments in Kenya