13 February 2013

Zimbabwe: Alexander Forbes Not Closing Zim Operations

Alexander FORBES says it is not closing its operations in Zimbabwe contrary to recent media reports.

The company's group chief executive, Mr Edward Kieswetter, said they remained open to potential

opportunities in the Zimbabwean economy and intend to make the most of these opportunities as and when they are identified.

Alexander Forbes sold the majority of its risk broking operations to Marsh in 2011. Further to this, the group is currently engaged in a process to position the risk services operations in Zimbabwe and Mozambique to ensure their future sustainability, Mr Kieswetter said.

He added: "Pursuant to this process, potential investors are being engaged to partner with us in order to enhance the positioning of these businesses in their respective markets.

"The group would like to place on record its appreciation of the management and staff of our Zimbabwe operations for their continued support and partnership in the drive to build a respected business in particularly challenging conditions having positioned the company as one of the leading risk management firms in Zimbabwe.

"We will be working with management to provide support particularly in assuring our clients of the quality of service they have always experienced."

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