Octagon Africa Financial Services has opened a new office in Mombasa as it steps up its expansion strategy, seeking to bring retirement planning, employee benefits, insurance and investment services closer to businesses and individuals in Kenya’s coastal region.
The office, located on the ninth floor of Epic Business Centre, is expected to strengthen the company’s engagement with employers, professionals, entrepreneurs and households seeking solutions to their long term financial needs.
The expansion comes amid growing attention to employee welfare, retirement preparedness and wealth creation, with businesses increasingly required to balance operational costs against the need to provide competitive staff benefits and secure their employees’ financial futures.
Mombasa’s diverse economy, anchored by trade, tourism, hospitality, logistics, manufacturing and professional services, offers opportunities for financial services providers to reach established enterprises as well as small and medium sized businesses.
Octagon Africa Group chief executive Fred Waswa said the opening marked a strategic milestone in the company’s ambition to expand its presence across Kenya and establish stronger relationships with customers in key economic centres.
“Mombasa is a fast growing city in Kenya, and we would like to be part of this growth,” Mr Waswa said.
He noted that the Coast region’s economic diversity presented opportunities to provide a broad range of financial solutions, including retirement planning, employee benefits, insurance, investment management and wealth preservation.
According to Mr Waswa, the new office will enable the company to engage more closely with businesses operating in different sectors and respond to their changing financial needs.
The expansion also reflects the growing importance of helping employers establish sustainable employee benefit programmes while enabling individuals to make informed decisions about savings, investments and retirement.
For many businesses, particularly smaller enterprises, providing structured employee benefits can be challenging because of competing financial demands. Access to professional advice and tailored financial products could help employers develop more sustainable arrangements for their workforce.
Individuals, meanwhile, face the challenge of preparing for retirement, protecting their assets and building financial security amid changing economic conditions.
Octagon Africa is positioning its Mombasa presence as part of a broader effort to improve access to formal financial solutions and strengthen financial awareness among employers and individuals.
The expansion will be supported by Octagon Africa’s partnership with Alexforbes, which the company considers central to its growth strategy and efforts to strengthen its employee benefits and financial services offering.
The collaboration brings together Octagon Africa’s local market presence and customer relationships with Alexforbes’ employee benefits and financial services capabilities.
The two organisations intend to use the partnership to deepen engagement with employers, identify new business opportunities and provide more integrated solutions to meet the needs of companies and their employees.
Alexforbes chief commercial officer Craig Bentley said the opening of the Mombasa office demonstrated the organisations’ commitment to extending financial services to clients in the coastal region.
“This move aligns with Alexforbes’ objective to offer opportunities and growth across the African region, and strategically into specific markets such as Kenya, while at the same time reinforcing key relationships with our partners such as Octagon Africa,” Mr Bentley said.
He added that strengthening the partnership would support the organisations’ broader ambitions in the African market while reinforcing their presence in Kenya.
The collaboration is expected to provide a platform for closer engagement with businesses seeking support in employee benefits and other financial services, as well as individuals looking for guidance on long term financial planning.
The Mombasa office adds to Octagon Africa’s efforts to expand its regional footprint and diversify its services by establishing a stronger presence in markets with varied economic activities and customer needs.
The Coast region’s business environment presents opportunities across both large organisations and smaller enterprises, with demand for financial services extending beyond conventional banking to include retirement benefits, insurance, investments and wealth management.
For employers, effective employee benefit arrangements can form part of strategies to attract and retain workers while improving their financial security. For employees, access to retirement planning and investment advice can help them prepare for life after active employment.
Octagon Africa’s expansion is therefore aimed at strengthening its role as a financial services partner for businesses and individuals seeking support at different stages of their financial lives.
The company also intends to use stronger customer relationships to encourage greater participation in formal financial solutions and improve access to retirement and investment planning.
While the opening marks a new phase in its coastal operations, the broader objective is to establish a more accessible and comprehensive financial services offering as the company pursues growth in Kenya and the wider African market.
The Mombasa office is expected to serve as a focal point for engagement with the region’s business community, enabling Octagon Africa to build on existing relationships and explore opportunities in emerging and established sectors.
The expansion underscores the growing focus among financial services providers on regional markets, where businesses and individuals require solutions that address immediate financial obligations while supporting long-term stability and wealth creation.
