ALEXANDER FORBES KENYA by Outlook Publishing

AL EX A NDE R F O R BE S KE N YA

Creating wealth and protecting clients www.alexanderforbes.co.za/kenya

ame A L E X A N D E R

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Serving Kenya Proudly

investment and risk Alexander Forbes’ extensive presence in sectors and serving East Africa’s gateway continues to individual, corporate, state, parastatal and make an impact based on simplicity, SME clients; the Company’s Chief Executive Officer (CEO), expertise, relationships, value Sundeep Raichura believes that and enrichment the Company is “at the forefront

in the products and services we offer in East and Central Africa and Project Manager: Callum Philp have earned a reputation in providing cutting-edge services in this region and creating benchmark standards aspired orking in response to a to by an entire industry”. higher purpose on an He continues: “We have a proven international scale, track record and a capable leadership Alexander Forbes Group has long been renowned team that encompasses diverse talent, skills and vast experience packaged for providing an impactful range of financial services with client enrichment together to provide a service offering that is without peer in the Kenyan in mind, and its role in Kenya continues market.” to epitomise such an ethos. With the Group headquartered in Consequently making huge gains in South Africa, Alexander Forbes’ Kenyan market share across its entire customer demographic over its tenure in Kenya, operations may seem like a replication Alexander Forbes’ success is attributed of the established global model when largely to its core motto - SERVE - which analysing its concerted range of consultancy and administration services ensures a consistent and impactful service driven from leadership and and solutions, but has made a name emanating across all areas of the for itself on a local level as a result of business. its pioneering market-driven solutions Raichura explains: “The ‘SERVE’ and commitment to corporate social calling card invites every employee at responsibility. Working in the financial services, Alexander Forbes to continually strive Writer: Matthew Staff

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to deliver to our clients with greater ‘Simplicity’ through the ‘Expert’ and innovative solutions we provide. We build long-term ‘Relationships’ based on the priceless ‘Value’ of hard-earned trust in order to ‘Enrich’ people’s lives.”

Holistic service

Established in the country in early 2003, the Company adopted the wider Group’s continental ambition to be a “truly African, globally distinctive organisation that creates wealth, protects clients’ assets from risks, and in doing so, impacts positively and sustainably on their lives”. Raichura’s rallying cry is more than applicable still in 2016, looking back at an evolution in Kenya that began on a solid platform of actuarial foundations and has since diversified in response to both its clients’ and the wider market’s requirements. “The principal services provided by Alexander Forbes in Kenya include

Alexander Forbes’ success is attributed largely to its core motto - SERVE

At Alexander Forbes, we are deeply committed to our higher purpose of helping people achieve peace of mind by securing their financial wellbeing, now and in the future

A name synonymous with innovative yet reliable pensions

actuarial services, retirement fund administration services, investment consulting, employee risk benefits and healthcare consulting, personal lines as well as business insurance solutions,” he says. “Whereas 12 years ago, our business was largely actuarial consulting, the coming on-board of Alexander Forbes enabled us to offer a much wider, holistic service offering in Kenya. “In 2003, we entered the pensions administration business through the

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acquisition of Corporate & Pension Trust Services Limited and in 2005, we entered the insurance broking space.” Alexander Forbes has subsequently become a market leader across all its focal points, leveraging unrivalled levels of innovation within the business that has led to groundbreaking market introductions and industry firsts; the launch of Kenya’s first multi-employer post-retirement medical plan, and the offering of digital solutions to trustees and members of Kenyan retirement funds being two more recent additions to the portfolio. “I am pleased with the number of new product and service enhancement initiatives that were implemented in the past year,” Raichura continues. “Early this year, recognising an important need in the market, we launched a new post-retirement umbrella medical plan, Ngao Milele (Kiswahili for eternal shield). “Ngao Milele is a simple vehicle to save for post-retirement medical needs

Africa Rising – our telecoms infrastructure It’s always been convenient for people to discuss Africa as if it was one entity instead of 55 different states. Even giving this number provokes discussion. Likewise, far too often Africa’s telecom infrastructure is discussed as if all countries and cities within them are at the same level of development. This is clearly not true. In some countries, there are extensive fibre networks whilst other countries are characterised by a continued over reliance on wireless and satellite technologies. However what is true across Africa is that businesses need to have reliable connectivity. Having a website, social media presence, increasing the amount of possible email traffic, enabling e-commerce and offering online customer support are just some of the business functions that are fast becoming mandatory for successful businesses and, of course, they all require higher connection speeds. A business in this day and age cannot grow if it cannot communicate electronically with customers, prospects, suppliers, investors and employees. And a multi-national company operating in Africa needs to be able to access the same intranet, ERP and CSR systems as their counterparts outside Africa. Our mission Liquid Telecom’s mission is simple: we want to connect every African business and home with fast, reliable broadband. We have built Africa’s largest independent fibre network spanning more than 20,000km across borders. We provide speeds of up to

100mbps; faster than many parts of Europe and the US. Thanks to Liquid Telecom, companies across Africa now benefit from the additional business, revenues and profits that fast, reliable broadband can bring. Our customers include businesses of all sizes from huge entities to smaller companies and start-ups from all sectors. Our fibre network is complemented by our award-winning satellite service which can reach any location in Africa cost-effectively. Keeping African data in Africa We know that keeping African data in Africa is key to keeping costs down and minimising delays in load time. Our broadband hubs throughout Africa ensure that your calls and data are not routed via London or Dubai or some other distant country overseas. We also operate the award-winning East Africa Data Centre, the perfect hosting location for both African and international companies who need to protect their business-critical applications and data in Africa. Building Africa’s digital future As an African company ourselves, we know that one can’t generalize about what businesses in Africa need. Every business is different just like every African country is different. But we do know that access to fast connectivity is essential for success and so we will continue to lay more than 100km of new fibre every week to continue building Africa’s digital future. To see how Liquid Telecom can help your business email info@liquidtelecom.com and we will put you in touch with your local Liquid team.

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and secure medical cover in retirement; targeted at employers and using the concept of an umbrella scheme in which a number of employers may subscribe. The response thus far to this product has been very encouraging and we hope to see this product gain traction in the coming year.”

Culture change

Value-add services contributed to the mixing pot over the past 12 months also include online service improvements, an eboard solution for retirement scheme trustees and enhanced online functionality for members of retirement benefit schemes. For the Company, such levels of proactive development and continuous improvement have helped to achieve ISO:9001 certification as well as

For the 20 years that I have worked in East Africa, I see the need to improve the savings culture and long-term financial security of Kenyans as increasingly critical

Empowering Kenyans to take more control of their money by promoting a culture of change

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escalated revenue growth and profit margins; but these are just by-products of Alexander Forbes’ overriding aim, to give back to the Kenyan population. “At Alexander Forbes, we are deeply committed to our higher purpose of helping people achieve peace of mind by securing their financial wellbeing, now and in the future. To this end, we have been at the forefront of debate on financial wellbeing in Kenya and the Alexander Forbes brand has been synonymous with financial expertise and innovative yet reliable pensions, medical and insurance solutions,” Raichura states. “For the 20 years that I have worked in East Africa, I see the need to improve the savings culture and long-term financial security of Kenyans as increasingly critical. “The savings culture in Kenya and in most African countries is sadly lacking... statistics suggest that for every 10 Kenyans retiring today at the age of 55 and above, nine are likely to be forced to continue working or be dependent on their families for subsistence. Only one out of every 10 people retiring is likely to be financially secure and able to cater for their needs in retirement. “It is time to break the successive cycle of poverty that has plagued Kenya and Africa for generations and to take decisive steps towards securing our financial future today.” The decision between saving and spending has therefore become a pivotal and unsavoury challenge for much of the Kenyan population, but one that Alexander Forbes is addressing as it strives to empower the country to take more control over their own long-term financial securities. The CEO continues: “We are looking to promote a culture change for Kenyans through creating awareness and providing education on the importance of savings. We strive to provide innovative solutions that meet the needs of Kenyans and thereby enabling them to fashion a roadmap for achieving their financial security.

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NJOROGE REGERU & CO.

joroge Regeru & Co. is a renowned and reputable commercial law firm in Kenya, with services in dispute resolution and a variety of corporate and commercial matters. We pride ourselves on offering sterling and seamless services to both regional and international clients. Njoroge Regeru & Co is a member of the International Society of Primerus Law Firms, an association of the world’s finest independent and boutique law firms with membership in more than 40 countries. We have also been consistently ranked in world’s leading directories such as Chambers Global and the IFLR 1000. T +254 20 261 2531 E info@njorogeregeru.com

www.njorogeregeru.com The Alexander Forbes team is driven to provide the best savings solutions for Kenyans

“This is the vision of the Alexander Forbes team that drives us to provide the best solutions for savings for Kenyans.”

PINEBRIDGE INVESTMENTS

A people’s business

The commitment to Kenya continues internally also, epitomised by an employment strategy that addresses both the aforementioned savings shortfalls in the country, as well as general skills enhancement. “Ours is a people’s business and one of the key reasons for our success has been the building and retaining of a team of the highest calibre,” Raichura notes. “At Alexander Forbes, I have the privilege to lead a team with some of the brightest and most talented people in Kenya. “Leadership of a dynamic team is a challenge that I am excited about and people only give their best when they are passionate about what they do and are committed to giving their best.” Considerable investment into

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At Alexander Forbes, I have the privilege to lead a team with some of the brightest and most talented people in Kenya

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E Erastus.Sifuma@pinebridge.com

pinebridge.com As of 31 December 2014.

PRACTICE AREAS Corporate and Commercial Law; Banking and Financial Services Law; Conveyancing and Securities Law; Corporate Restructuring Including Mergers, Acquisitions and Joint Ventures; Energy Law; Civil and Commercial Litigation; Constitutional and Judicial review Litigation; Public Interest Litigation; Arbitration, Alternative Dispute Resolution (ADR) including mediation and expert adjudication.

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Arbor House, Arboretum Drive P.O Box 46971-00100 GPO Nairobi Tel:+254-020-2612531/2613646 Cell: 0722 206 884 | 0733 608141 Fax: +254-020-2349211, 2375302 Email: info@njorogeregeru.com Website: www.njorogeregeru.com

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For further information please contact Erastus Sifuma email Erastus.Sifuma@pinebridge.com or visit pinebridge.com Data as of 31 December 2015 unless otherwise indicated. This advertisement is intended for information only, aimed solely at institutional investors and should not be relied upon by private investors. Past performance is not indicative of future results. Licensed and regulated by the Capital Markets Authority and is registered with the Retirement Benefits Authority.

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“The new system provides superior administrative capability and functionality to any other operating system in the Kenyan market, including electronic access by designated Trustee officers and internet access to individual member benefits information by members.”

Watch this space

The Company has made considerable investments into the training of its staff as part of a long-term sustainability strategy

the training and upskilling of staff ensures that this commitment, passion and affinity with the Company is maintained, while adjacently improving the level of operations within the business; based on an equally well-honed IT infrastructure and the adherence to the most modern regulations. Compounding this dedication to sustainable, long-term growth is Alexander Forbes’ equally proactive philosophy surrounding capital expenditures; thus making sure that the Company has an internal infrastructure every bit as advanced and capable as its external offering. “Over the past three years, we have continued to invest in new systems and procedures to enhance customer offerings and to grow the value of our business,” Raichura says. “These include aligning our administration systems to those used at Group level.

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KSh750,000 Alexander Forbes raised KSh750,000 towards the cost of purchasing cancer medicines for Kenyatta National Hospital

Planning for even more concerted structural developments in the near future, the Company is looking to move to new, more modern premises in Nairobi in 2019, but arguably the business’s most influential investments are seen through its corporate social responsibility (CSR) efforts. Staying true to the actuarial foundations of the business, Alexander Forbes has recently committed KSh500,000 to exam support for science students at Strathmore Business School with the aim of also developing an internship programme for pupils seeking industry support. Raichura adds: “In terms of social responsibility, we are committed in our support of pressing community issues of the day. We have an active CSR Committee at Alexander Forbes Kenya who have the mandate to identify and spearhead community service initiatives. “Last year our focus was on the children’s cancer ward at the Kenyatta National Hospital, one of our leading referral hospitals in Nairobi. We resolved as a Company to raise funds towards the purchase of medicine and made a contribution of KSh750,000 towards the cost of purchasing much needed cancer medicines for the children.” It is this ability to balance business acumen and success with wider social considerations that has made Alexander Forbes the winning Company it is today, both in Kenya and on a global scale; consistently leveraging its market differentiators across innovation, localisation,

We have an active CSR Committee at Alexander Forbes Kenya who have the mandate to identify and spearhead community service initiatives

attention to detail, optimising talent, adherence to governance, close industry collaboration, and competitive and transparent fees. “We have doubled our business in Kenya in the past four years. The next four years promise to be even more exciting for Alexander Forbes as we embark on an ambitious growth plan to introduce new business segments and expand our service offering,” Raichura concludes. “From the vantage point I sit, I see huge opportunity for the financial services industry in Kenya and with our market leadership in pensions and the employee benefits industry in Kenya, I believe Alexander Forbes is well-positioned to take advantage of the opportunities that the market presents. “Watch this space as Alexander Forbes continues to lead the market with new expert, yet simple innovations.”

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ALEXANDER FORBES FINANCIAL SERVICES (EAST AFRICA) LIMITED Landmark Plaza, 10th Floor, Argwings Kodhek Road Opposite Nairobi Hospital, Nairobi, Kenya Tel: +254 20 4969 000 Fax: +264 20 4969 100 Email: info@aforbes.co.ke