Alexander Forbes moves to Exit Ugandan Market
The firm says the operating environment for emerging markets businesses has proved difficult due to vulnerabilities faced by economies in the region
Alexander Forbes Financial Services, which provides retirement fund administration services, has stopped its current in-country operations in Uganda.
Mr Dowie de Villiers, the Group’s Chief Executive Officer, termed the exit as a strategic review of its business and operating model adding that the process will be handled properly to avert any negative impact.
“In it, the strategic review outlined the company’s vision for servicing its client across Africa through its advice-led solution platforms across health, wealth and career.
“The company is committed to an orderly exit from Uganda and will maintain levels of service and advice to clients. Details regarding the exit will be communicated as soon as there are material developments,” the statement read.
The group provides services in comprehensive benefit administration, accounting, consulting and actuarial services.