Prudential appoints Chief Executive Officer for Africa
14th November 2022 4:28:58 PM
2 mins readEmmanuel Mokobi Aryee has been named the new Chief Executive Officer for Africa by Prudential, who will be in charge of the company's activities in its eight African regions.The appointment aims to enhance and expand the company's activities in the markets where it already operates while also centralizing Prudential's operations in Africa.
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Solmaz Altin, the Managing Director of Prudential in charge of the Strategic Business Group, expressed his satisfaction with the appointment and noted that Mokobi's new position will start on January 1, 2023, with a base in Nairobi, the continent's regional capital.
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“Africa is a strategic growth driver for our group, building the talent and capacity to drive the next level of business growth is key and will foster greater efficiency and effective decision making to help us deliver on our purpose of helping people in Africa get the most out of life by making healthcare and financial security more accessible and affordable,’’ Solmaz addedCurrently Mokobi is the Regional Chief Executive Officer for two
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regions: East and Central, as well as West and Southern Africa.“Mokobi is a well-known industry veteran, with more than 29 years of experience of commercial leadership in Africa.“His past experience includes turning around businesses on the African continent, moving Prudential to the number one market position in some of our countries, and gaining recognition as an innovative player.
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“Over the years, he has nurtured employees and created room for talent to thrive.“Africa is a continent with great potential. Data from Swiss Re Institute ranks the continent as the second-fastest growing insurance market in the world after Latin America, with a total value of $68 billion.“Yet, Africa has a large uninsured population as reflected in the low insurance penetration levels currently at 2.8 per cent.
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This points to significant headroom for expansion of the underwriting market, also given the population is expected to double to 2 billion by 2050.“As a purely Asia and Africa-focused business, we are investing in people and technology to build the capacity to serve more customers on the continent. Today, Prudential serves over 1.7 million customers in Africa through a distribution network of more than 13,000 agents and 600 bank branches.
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Since we started our Africa journey in Ghana in 2013, we are now present in eight countries – Cameroon, Cote d’Ivoire, Ghana, Kenya, Togo, Uganda, Zambia and Nigeria.“We are confident that the Africa business will continue to thrive under the stewardship of Mokobi.”
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