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Mar 2017 In June 2015, Old Mutual acquired 60.7% of UAP Holding for the amount of 25.6 billion KES (254 million USD). Despite this takeover, both companies had maintained their independent life insurance and asset management operations.
Early 2017, management announced the integration of various entities, a move that is poised to be finalized in the course of the first quarter of 2017. Restructuring is going to trigger the layoff of approximately 100 staff members in Kenya. The other subsidiaries located in Uganda, Tanzania, South Sudan, Rwanda and Democratic Republic of Congo will not be affected.
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