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Old Mutual Holdings Plc, Formally known as UAP Holdings Limited, is an investment, retirement, and insurance group that operates mainly in Eastern Africa.UAP Holdings is one of the leading insurance and financial services groups in eastern Africa with a network of branches and operational subsidiaries spread across the greater eastern and central Africa regions.
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 ...
Old Mutual Limited is a pan-African investment, savings, insurance, and banking group.It is listed on the Johannesburg Stock Exchange, the Zimbabwe Stock Exchange, the Namibian Stock Exchange and the Botswana Stock Exchange.
UAP Old Mutual Group 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 Kenya, with subsidiaries in six African countries.
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The bank has grown from one MFI office in 1991 to over 90 service outlets which include 27 banking branches in seven of the eight provinces in Kenya by end of 2011. [2] In April 2014, Old Mutual completed its acquisition of 67% of Faulu Kenya [3] through a KSH 2 billion capital injection. [3]
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In 1986, Old Mutual became the major shareholder (53%) of Nedbank. [4] In 1992, Syfrets, UAL Merchant Bank, and Nedbank Investment Bank Division merged to become Nedcor Investment Bank (NIB). Old Mutual, Nedcor's holding company, was demutualised and listed on the London Stock Exchange in 1999. [5]