UAP Old Mutual Group







































UAP Old Mutual Group
Type
 Private conglomerate
Industry
Insurance, financial services
Founded 2015
Key people
Joseph Wanjui
Chairman
Peter Mwangi
Group CEO
Products
Life, health insurance, investment management, Investment advisory, brokerage, real estate investment trusts
Number of employees
 4,000+
Website Homepage

UAP Old Mutual Group is a financial services conglomerate that maintains its headquarters in Kenya, with subsidiaries in Uganda, Tanzania, South Sudan, Rwanda and the Democratic Republic of the Congo.[1]




Contents






  • 1 Location


  • 2 Overview


  • 3 Governance


  • 4 See also


  • 5 References


  • 6 External links





Location


The headquarters of UAP Old Mutual Group are located in the 33-storey UAP Old Mutual Tower, located on Hospital Road, in Upper Hill, Nairobi, about 3 kilometres (2 mi), southwest of the city's central business district.[2] The coordinates of the company headquarters are: 01°17'56.0"S, 36°49'10.0"E (Latitude:-1.298889; Longitude:36.819444).[3]



Overview


In 2014 Old Mutual acquired a controlling 67 percent interest in Faulu Kenya, the second-largest microfinance bank in Kenya, whose stock is privately held, for a sum of KSh3.6 billion (approx. US$40 million).[4][5] 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.[6] Later in 2015, Old Mutual began to consolidate all its investments in Kenya under one company, namely the "UAP Old Mutual Group".[7] 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.[1] UAP Old Mutual plans to list its shares on the Nairobi Securities Exchange (NSE) in 2018, after the mergers are concluded.[4]



Governance


The group is governed by a 14-person board of directors chaired by Dr. Joseph Barrage Wanjui,[8] a shareholder in the business. The Group CEO is Peter Mwangi, a certified public accountant and a chartered financial analyst.[9][10]



See also



  • UAP Holdings

  • Faulu Kenya

  • Old Mutual



References





  1. ^ ab UAPOMG (20 September 2017). "UAP Old Mutual Group: Who we are". Nairobi: UAP Old Mutual Group (UAPOMG). Retrieved 20 September 2017..mw-parser-output cite.citation{font-style:inherit}.mw-parser-output q{quotes:"""""""'""'"}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:inherit;padding:inherit}.mw-parser-output .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-limited a,.mw-parser-output .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}


  2. ^ GFC (20 September 2017). "Distance between Central Business District, Nairobi, Nairobi County, Kenya and UAP Old Mutual Tower, Upper Hill Road, Nairobi, Kenya". Globefeed.com (GFC). Retrieved 20 September 2017.


  3. ^ Google (20 September 2017). "Location of the headquarters of UAP Old Mutual Group" (Map). Google Maps. Google. Retrieved 20 September 2017.



  4. ^ ab Muniata, Peter (2 January 2016). "UAP pushes planned listing at Nairobi bourse to 2018". The EastAfrican. Nairobi. Retrieved 20 September 2017.


  5. ^ Njiru, John (2 April 2014). "Old Mutual acquires 67pc of Faulu Kenya". Business Daily Africa. Nairobi. Retrieved 20 September 2017.


  6. ^ Juma, Victor (27 January 2017). "Old Mutual raises stake in UAP after Sh14bn buyout". Business Daily Africa. Nairobi. Retrieved 20 September 2017.


  7. ^ Kangethe, Kennedy (23 June 2015). "UAP and Old Mutual to merge, list on NSE". Nairobi: 98.4 Capital FM. Retrieved 20 September 2017.


  8. ^ Juma, Victor (3 July 2015). "Old Mutual snub returns to haunt UAP chief executive". Business Daily Africa. Nairobi. Retrieved 20 September 2017.


  9. ^ UAPOMG (20 September 2017). "Members of the Board of Directors of UAP Old Mutual Group". Nairobi: UAP Old Mutual Group (UAPOMG). Retrieved 20 September 2017.


  10. ^ Juma, Victor (30 June 2015). "Former NSE chief Mwangi to head UAP-Old Mutual". Business Daily Africa. Nairobi. Retrieved 20 September 2017.




External links



  • Website of UAP Old Mutual Group



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