UAP plans to list on Nairobi bourse

UAP Group has announced plans to list at the Nairobi Securities Exchange (NSE) next year. Group chairman Dr Joe Wanjui said the company is currently undertaking property development in all its market segments in preparation for the offloading of shares to the public.

"Investors can still access our shares at the NSE as we trade over the counter. But, by next year our plan is to fully provide the shares to the public. We are at the moment undertaking a number of property projects in various segments in which we operate most of which will be completed by the first quarter of 2015," said Dr Wanjui.

He was speaking at a Nairobi hotel yesterday during the launch of a new subsidiary -UAP Investments. Currently, UAP has 12 businesses operating in Kenya, Uganda, South Sudan, Rwanda, DRC and Tanzania.

Wanjui said the launch of the company conforms to UAP's vision to be Africa's revolutionary financial services group. Once it is listed, UAP will join a number of other insurance companies already trading at the NSE.  Cabinet Secretary for National Treasury, Henry Rotich, said infrastructure development is priority for the Government.

"National Treasury will work closely with the Ministry of Transport and Infrastructure, to ensure that the road network in Upper Hill area befits a world class financial district hub that houses the 33-storey UAP Tower," said Mr Rotich.

In August 2013, UAP received fund management licenses from both the Capital Market Authority (CMA) and the Retirement Benefits Authority (RBA), to commence operations of their asset management and investments advisory business in Kenya.

UAP Group Managing Director, Dominic Kiarie explained that in-line with the group's growth strategy, UAP Investments provides comprehensive range of domestic investment products in the East, Central and Southern African region, with the business offering private wealth management service to clients seeking to preserve and grow their wealth.

Services provided include a series of investment funds that meet financial and investment needs of a broad array of investors.