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Employees Provident Fund (Malaysia), Malaysia's retirement plan; Employees Provident Fund (Nepal), Nepal's retirement Plan; Central Provident Fund (South Africa), a retirement trust; Instituto del Fondo Nacional de la Vivienda para los Trabajadores, Mexico's public pension fund and largest mortgage lender; National Social Security Fund (Kenya)
With more than 1,500 branches in 35 countries, the Ecobank-Nedbank Alliance is the largest banking network in Africa. The alliance was formed in 2008 between the Ecobank Group and the Nedbank Group, one of South Africa 's four largest financial services providers, with a growing footprint of operations across the Southern African Development ...
A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income. The U.S. Government 's Social Security Trust Fund , which oversees $2.57 trillion in assets, is the world's largest public pension fund.
The Nedcor Group was renamed the Nedbank Group on 6 May 2005. In August 2009, Nedbank acquired the 49.9% of Imperial Bank South Africa that it did not own, so Imperial Bank South Africa is wholly owned by Nedbank. [7] In October 2014, Nedbank acquired a 20% stake in Ecobank, converting its $285 million claim in Ecobank into equity. [8] [9]
The retirement fund is a defined benefit type pension plan and was only partially funded by the government, with only $268.4 million in assets and $911 million in liabilities. The plan experienced low investment returns and a benefit structure that had been increased without raises in funding. [ 78 ]
In 2013, Old Mutual strengthened operations in Africa with the acquisition of Provident Life Assurance in Ghana [16] and Oceanic Life in Nigeria. [17] Also in 2013, Old Mutual acquired the Fairheads Trust Company, one of the oldest trust companies in South Africa, [18] and established the Old Mutual Wealth Trust Company. [19]
Alexander Forbes Group Holdings, commonly referred to as Alexforbes is a diversified financial services organisation. [2] [3] The company is headquartered in Johannesburg, South Africa, with a presence in two other countries on the African continent: Namibia and Botswana and in the Channel Islands through an offshore Jersey operation.
Jason Quinn (born circa 1975) is the chief executive officer (CEO) designate of Nedbank Group. He previously was CEO in acting capacity, of Absa Group Limited, a financial services conglomerate, with headquarters in Johannesburg, South Africa, and subsidiaries in eleven sub-Saharan countries.