Alexander Forbes announces new group CEO

Alexander Forbes Group Holdings has appointed Andrew Darfoor as the new Chief Executive Officer, effective from the 1st of September. In an exclusive interview with CNBC Africa, Darfoor outlined his strategic vision for the organization, emphasizing a continued focus on strategic transformation and innovation. Reflecting on his appointment, Darfoor highlighted that the strategic direction of Alexander Forbes remains unchanged, with a renewed commitment to executing the existing strategy more effectively and efficiently. The key objectives of this strategic transformation include enhancing technical margins, optimizing product pricing, and driving investments for growth. Darfoor specifically highlighted the importance of investing in the retail segment and expanding operations in the fast-growing markets of Sub-Saharan Africa. He emphasized the need for a customer-centric approach, taking control of the factors within the company's reach amidst challenging economic conditions in the region. Darfoor stressed the significance of improving the customer experience, embracing digital technologies, and delivering tailored solutions to maintain competitiveness. While acknowledging the impact of external economic factors on the business, Darfoor reiterated the importance of focusing on internal initiatives to drive performance. One of the core pillars of Darfoor's strategy is driving innovation at Alexander Forbes. He emphasized the need to adapt to the evolving needs of customers, particularly the younger investors who seek more personalized and comprehensive financial services. Darfoor outlined plans to introduce new products and solutions across the value chain, catering to long-term financial planning and well-being. By offering a holistic range of services encompassing investments, retirements, and healthcare, Alexander Forbes aims to enhance its relevance and value to customers. Looking ahead, Darfoor underscored the company's commitment to growth in Sub-Saharan Africa. While acknowledging the diverse market landscape across the continent, he expressed intentions to prioritize investments in key regions such as East Africa, with a long-term vision for expansion in West Africa. Darfoor's appointment as the new CEO signifies a strategic shift towards customer-centric innovation and growth in emerging markets. His leadership is poised to steer Alexander Forbes towards a trajectory of sustainable growth and enhanced value proposition for clients.