One of the largest providers of retirement fund administration services in Uganda, Alexander Forbes Financial Services, is reportedly exiting the country after years of operation.
Without disclosing the details, the group made the public announcement on Thursday after what it called strategic review of the business and operating model. The company first announced the review on March 26, 2019 to its investors and the market in South Africa.
“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.
“As a result, Alexander Forbes Group Holdings Limited will exit its current in-country operations in Uganda,” a statement from the group reads in part.
Mr Dowie de Villiers, the Group’s Chief Executive Officer, in the statement said the process will be handled in an organised way to ensure that no one is negatively affected.
“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,” he concluded.
Alexander Forbes Financial Services is the largest provider of retirement fund administration services in Uganda. They provide services in comprehensive benefit administration, accounting, consulting and actuarial services.