Mercer and Alexander Forbes launch Arrive financial services programme in Kenya

05 April 2019 Consultancy.africa

Pan-African financial advisory firm Alexander Forbes has entered into a partnership with global health and wealth management consultancy Mercer to develop a financial solutions programme by the name of “Arrive” for individuals in Kenya as well as across the entire continent.

While foreign investment has been on the rise in Africa – given that the region boasts a substantial and young population and a number of resource-rich economies that are looking to diversify – a number of firms have struggled with developing products and solutions that are suitable across the wide variety of economies and cultures on the continent.

Several consulting firms have rushed in to support with this integration process, and the Arrive programme is designed with precisely such an objective in mind. The programme – to be developed jointly by Alexander Forbes and Mercer – is designed to help international firms with tailoring solutions across African markets.

Mercer and Alexander Forbes launch Arrive financial services programme in Kenya

The solution will take into consideration the various regulatory and economic conditions of each country, while endowing its services with knowledge from international best practices in the domain of health, wealth and career management. The collaboration comes at a time when firms across Africa are struggling with digital and regulatory disruption.

Mercer has come to be increasingly active in supporting this transition across the continent, through a number of collaborations. Just earlier this year, the firm announced a strategic partnership with Learning Organisation in Ghana to offer comprehensive HR solutions in the country.

Commenting on the partnership, Peter Botha, CEO of Mercer Africa said, “With Arrive employers can enjoy improved efficiency, easy decision-making and affordability from a single point of contact while enabling employees to arrive at financial well-being, a rewarding career and better health throughout their life journey.”

Dawie de Villiers, Group Chief Executive at Alexander Forbes added, “Because each country has its own regulatory and benefit rules, it makes it difficult for multinationals to standardise benefits when operating in multiple jurisdictions and countries.”

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MCB Group to establish Kenya office as local presence in East Africa

22 February 2019 Consultancy.africa

Mauritius-based financial advisory services firm MCB Group has made the decision to establish a presence in Kenya through the establishment of a new representative office in Nairobi. The new office will host a delegation of 16 people, including the CEO and Chairman of the Board.

The firm was founded in Port Louis nearly two centuries ago, and has evolved over the years from a solely banking institution into an advisory firm that offers financial services in a number of domains, including private banking and wealth management, as well as private equity.

The firm is based in Mauritius, and thus far has additional operations in Seychelles, Madagascar and the Maldives. Now, the firm is set to have a strong presence in the Kenyan market through its new office, which will offer a base from which to serve the broader region of East Africa as well.

MCB Group to establish Kenya office as local presence in East Africa

Newfound political stability and the consequently low level of risk that has come with it has made the East African market a lucrative one for investment. Economies in the region are growing and diversifying, which creates a scenario that is conducive to the business for financial advisory firms.

Commenting on the firm’s entry into Kenya, CEO of MCB Alain Law Min said, “We want to position MCB Group as a strong and competitive regional financial hub, leveraging Mauritius as an international financial centre of repute and substance. We are keen in enriching the appeal and adaptability of our value proposition across markets and segments, whilst upholding organization-wide synergies and collaborative partnerships."

“We believe we can create and develop fruitful partnerships with the business community here. Whilst there is no immediate intention to open branches and banking halls in Kenya and East Africa, the Nairobi Rep office will enable MCB to better gauge the opportunities and develop strong relationships in this region. “

“Our presence has so far enabled us to forge partnerships with banks and corporates and hence develop our banking and non-banking product and services offers. In this respect, our Kenya rep office can be a doorway to Mauritius and MCB Group, and our array of products and services can be put to good use by Kenya corporates and banks as well,” he concluded.