In a press release published, British insurer Prudential Plc announced the appointment of its CEO for Africa, Emmanuel Aryee Mokobi. This new function gives him the management of the 8 African subsidiaries where this insurance company specializing in wealth management practices. Indeed, he is responsible for managing the growth, profitability and long-term sustainability of the services offered in Cameroon, Côte d’Ivoire, Uganda, Zambia, Kenya, Ghana, Nigeria and Togo. “Africa is a strategic growth engine for our group, it is important to develop talent and capabilities to stimulate the company’s next level of growth”, commented Solmaz Altin, CEO of Prudential.
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Prior to his appointment, Emmanuel Aryee Mokobi held the position of Regional Director General (Southern and West Africa) before becoming Regional Director General (Central and East Africa). He was the CEO Prudential Life Insurance Ghana between April 2014 and July 2021. The Ghanaian, who has 29 years of experience, is a Chartered Insurer (ACII, UK) and holds an MBA in Marketing from the University of Ghana. According to our colleagues from Sika Finance, the latter must “carry the ambitions of the group that intends to bet on the African market, which is presented as the second fastest growing market in the world after that of Latin America”, we learn.
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Prudential Plc has expanded its presence in the Cameroonian market with the acquisition of a majority stake in the insurance company Beneficial Africa, which is active in non-life insurance (fire, accident and various risks) and life insurance (Beneficial Life). Hence the name Prudential Beneficial General Insurance Cameroon. This acquisition therefore enabled Prudential to strengthen its offering of long-term savings and pension solutions in the Cameroonian market.
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As a reminder, Prudential now covers markets with more than 400 million inhabitants on a continent where the insurance coverage ratio hardly exceeds 1%. Listed on the stock exchanges in London, Hong Kong, Singapore and New York, Prudential Plc announced on 1eh half of 2022, a positive net result of 1.1 billion dollars (724.1 billion Fcfa).