Alexander Forbes is exiting the Ugandan market after what it termed as a strategic review of its business and operating model.
The company made the announcement about the exit in a May 16 press release.
Part of the release reads: “Alexander Forbes Group Holdings Limited published the outcome of its strategic review of the business and operating model on 26 March 2019, through an announcement to investors and the market on the Johannesburg Stock Exchange News Service (SENS).
“In it, the strategic review outlined the company’s vision for servicing its clients across Africa through its advice-led solution platform across health, wealth and career called ‘Arrive’. The pan-African solutions are aligned to local regulations and based on global best practices.”
It adds “As a result, Alexander Forbes Group Holdings Limited will exit its current in-country operations in Uganda. The company iscommitted 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.”