Pension industry takes a new path with change of law

Sundeep Raichura, Zamara CEO: We remain committed. FILE PHOTO | NMG

Kenya’s largest pension funds administrator Alexander Forbes, has just rebranded to Zamara. The change in trade name came in the wake of a change in the company’s ownership that has cut foreign ownership in the firm to 30 per cent.

That shift was itself in line with the recently enacted legislation that caps foreign ownership of pension fund administrators at 40 per cent.

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Note: The results are not exact but very close to the actual.