× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

Integration of UAP-Old Mutual Group to take 3 months, CEO says

By Lydiah Nyawira | July 9th 2015

NAIROBI: The integration of all services offered within the newly merged, UAP-Old Mutual Group is expected to be complete within the next 100 days, Group Chief Executive Officer Peter Mwangi has said.

More than 500 employees of UAP-Old Mutual Group based in the Central Kenya region were on Tuesday briefed on the implications of the merger between UAP, Old Mutual and Faulu Microfinance Bank.

Mwangi said the merger of services offered by the three organisations would allow clients access to various services offered such as life and general insurance to banking and asset management.

“We want our clients to access a variety of services when they walk into any of our branches, which will be one-stop shops,” Mwangi explained.

“The merger has offered us an opportunity for skills transfer across the various platforms and we intend to invest in training of our staff to offer clients full benefits.”

Old Mutual owns 67 per cent of Faulu Microfinance Bank, which will now become an agent for the new group in distributing its products. Faulu Microfinance Bank has 11 branches while Old Mutual has three and UAP has four offices in the region. Mwangi assured the employees of their jobs.

“We have so far had positive response from clients in the region and are expecting to see improved growth due to the interest in financial services from residents of Mt Kenya region,” Mwangi said.

Share this story
KenGen plans to add another 450 MW to grid in three years
Power producer Kenya Electricity Generating Company (KenGen) plans to add another 450 megawatts (MW) to the grid from wind and geothermal in the next three years at a cost of at least $710 million (Sh71b), its chief executive said yesterday.
Dog walking becomes the newest hustle in town
Dog walking is now a status symbol. Owning a pet is cool. I nowadays meet lots of Kenyans and foreigners walking their dogs and some running.