{"id":38109,"date":"2021-10-28T17:03:19","date_gmt":"2021-10-28T17:03:19","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/?p=38109"},"modified":"2021-10-28T14:53:30","modified_gmt":"2021-10-28T14:53:30","slug":"prudential-moves-africa-offices-to-nairobi","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/prudential-moves-africa-offices-to-nairobi","title":{"rendered":"Prudential moves Africa offices to Nairobi"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Prudential plc has picked Kenya as its African headquarters, a few months after becoming the first firm to subscribe to the Nairobi International Financial Centre (NIFC).<\/p>\n

Apart from Kenya, the firm has operations in Cameroon, Cote d’Ivoire, Ghana, Togo, Uganda, Zambia and Nigeria with all these offices directly reporting to London<\/p>\n

The new continental hub will oversee operations in four regions covering eight countries that serve at least 1.7 million customers.<\/p>\n

The UK\u2019s oldest insurer which commenced operations in 1848 was among two companies that applied to become anchor clients of NIFC. President Uhuru Kenyatta launched the financial hub in July while on a tour of the UK.<\/p>\n

TheCityUK, riding upon the partnership between the UK and Kenya signed last year, submitted Prudential\u2019s application alongside a memorandum of understanding.<\/p>\n

Speaking at the launch yesterday in Nairobi, National Treasury permanent secretary Julius Muia asked other foreign investors to take advantage of the country\u2019s promising financial hub to grow portfolios and give value to their customers.<\/p>\n

“Kenya\u2019s expansive tech innovations, skilled labour, high internet penetration and diversified economy presents numerous opportunities for investors. Incentives that will come with NIFC are icing on the cake,\u2019\u2019 Muia said.<\/p>\n

NIFC chief executive Oscar Njuguna said that the regulations to govern Africa\u2019s new financial centre will be ready in the coming weeks.<\/p>\n

Prudential is setting its African base in Kenya seven years after its return. It had exited the continental market in the 1990s before returning to Ghana in 2013.<\/p>\n

Prudential\u2019s regional CEO of Insurance Growth Markets Wilf Blackburn said the Nairobi office underscores the company\u2019s deep commitment to Africa.<\/p>\n

\u201cOur purpose is to help people get the most out of life. In line with this, we want to make healthcare and financial security more accessible and affordable to the people of Africa,\u2019\u2019 Blackburn said.<\/p>\n

Speaking exclusively to the Star, Prudential Africa chief operating officer Nick Holder said the firm is counting on Nairobi\u2019s strategic position to expand its network to 20 more countries in the continent in the next year.<\/p>\n

He said the insurer sees the demand for insurance growing across Africa where the population is expected to double to 2 billion by 2050.<\/p>\n

\u201cThere is a huge unexploited market here. Today, Africa has an insurance penetration rate of 2.7 per cent and its out-of-pocket spend on health is almost double that of Asia at $6 billion,\u2019\u2019 Holder said.<\/p>\n

He added that they have several products in the pipeline targeting the informal sector and small businesses, a move aimed at increasing uptake in countries like Kenya, which has low insurance penetration of below 2.4 per cent.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Prudential plc has picked Kenya as its African headquarters, a few months after becoming the first firm to subscribe to the Nairobi International Financial Centre (NIFC). Apart from Kenya, the firm has operations in Cameroon, Cote d’Ivoire, Ghana, Togo, Uganda, Zambia and Nigeria with all these offices directly reporting to London The […]<\/p>\n","protected":false},"author":84,"featured_media":38108,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6857,7003,544],"class_list":["post-38109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nPrudential moves Africa offices to Nairobi - kenya<\/title>\n<meta name=\"description\" content=\"Prudential plc has picked Kenya as its African headquarters, a few months after becoming the first firm to subscribe to ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/prudential-moves-africa-offices-to-nairobi\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prudential moves Africa offices to Nairobi\" \/>\n<meta property=\"og:description\" content=\"Prudential plc has picked Kenya as its African headquarters, a few months after becoming the first firm to subscribe to ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/prudential-moves-africa-offices-to-nairobi\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-28T17:03:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/10\/img-617ab950861a8.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"668\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/prudential-moves-africa-offices-to-nairobi#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/prudential-moves-africa-offices-to-nairobi\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Prudential moves Africa offices to Nairobi\",\"datePublished\":\"2021-10-28T17:03:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/prudential-moves-africa-offices-to-nairobi\"},\"wordCount\":449,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/prudential-moves-africa-offices-to-nairobi#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/10\/img-617ab950861a8.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/prudential-moves-africa-offices-to-nairobi#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/prudential-moves-africa-offices-to-nairobi\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/prudential-moves-africa-offices-to-nairobi\",\"name\":\"Prudential moves Africa offices to Nairobi - 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