About UAP Old Mutual
The UAP Old Mutual Group is an integrated Financial Service business comprising Faulu Microfinance Bank, UAP and Old Mutual. The Group, which is operational in East Africa services to more than 1.2 million customers across Kenya, Uganda, Tanzania, Rwanda and South Sudan.
The UAP Old Mutual Group now comprises of three key players as a result of the acquisition of a controlling stake in Faulu in 2014 and UAP in 2015 by Old Mutual. The acquisitions resulted in Old Mutual Kenya UAP Holdings and Faulu Microfinance Bank, forming one of the largest financial services groups with a growing footprint in East and Central Africa.
UAP and Old Mutual have been major players in the financial services market in East Africa for decades. The two entities have vast experience in Insurance, Investment, Asset Management and Banking, and are passionate about helping our customers achieve their financial goals.
A unique opportunity arose for two like-minded organizations, who were in pursuit of becoming Africa’s financial champions, to partner in January 2015.
The decision by UAP to sell shares to Old Mutual was driven by the fact that Old Mutual was deemed to be the right strategic partner to take the business forward. This resulted in the Old Mutual Group acquiring a controlling stake of 60.66% in UAP Holdings in June 2015.
“Our customers can now be assured of holistic solutions and unrivalled convenience for their goals. The wider group also offers broad career growth prospects for employees.”
– Peter Mwangi, Group CEO, UAP Old Mutual Group
OUR VISION AND STRATEGY
To be our customers’ most trusted partner and passionate about helping them achieve their lifetime financial goals.
OUR STRATEGY
Responding to our customers’ needs, we are building a long-term savings, protection, investment and lending group by leveraging the strength of our people and capabilities in East Africa and across the continent. We will focus, drive and optimize our businesses to enhance value for customers, shareholders and the communities we serve.
The Group is part of the Old Mutual Limited which operates in 13 countries in Africa. Old Mutual was established in South Africa in 1845 and has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999. In March 2016, the Old Mutual Group adapted a managed separation strategy of its four underlying businesses: Old Mutual Emerging Markets (Now Old Mutual Limited), Nedbank, UK based Old Mutual Wealth and US based Old Mutual Asset Management. The primary listing of Old Mutual Limited, which comprises the East Africa business, on the Johannesburg Stock Exchange was on done 26th June 2018. With Secondary listings in Zimbabwe, Namibia & Malawi.
