UAP Old Mutual Group is a financial services conglomerate that maintains its headquarters in

Kenya ) , national_anthem = "Ee Mungu Nguvu Yetu"() , image_map = , map_caption = , image_map2 = , capital = Nairobi , coordinates = , largest_city = Nairobi , ...

, with subsidiaries in

Uganda }), is a landlocked country in East Africa East Africa, Eastern Africa, or East of Africa, is the eastern subregion of the African continent. In the United Nations Statistics Division scheme of geographic regions, 10-11-(16*) territor ...

Tanzania Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands and ...

South Sudan South Sudan (; din, Paguot Thudän), officially the Republic of South Sudan ( din, Paankɔc Cuëny Thudän), is a landlocked country in East Africa. It is bordered by Ethiopia, Sudan, Central African Republic, Democratic Republic of the C ...

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 The Democratic Republic of the Congo (french: République démocratique du Congo (RDC), colloquially "La RDC" ), informally Congo-Kinshasa, DR Congo, the DRC, the DROC, or the Congo, and formerly and also colloquially Zaire, is a country in ...

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 Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...

, 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 Old Mutual Holdings Plc, Formally known as UAP Holdings Limited, is an investment, retirement, and insurance group that operates mainly in Eastern Africa, but has plans to be a pan-African insurance company. UAP Holdings is one of the leading ins ...

. 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 The Nairobi Securities Exchange (NSE) was established in 1954 as the Nairobi Stock Exchange, based in Nairobi the capital of Kenya. It was a voluntary association of stockbrokers in the European community registered under the Societies Act in ...

(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 ...

Peter Mwangi Peter King'ori Mwangi is an electrical engineer, accountant and business executive in Kenya. He is the current Group Managing Director and Group Chief Executive Officer of the UAP Old Mutual Group, the financial services conglomerate, based in ...

, a certified public accountant and a chartered financial analyst.

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

Location

Overview

Governance

See also

References

External links