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American IT firm to enter East Africa through Nairobi office

A US-based financial technology company plans to open an office in Nairobi, the first in East Africa.

The firm, SunGard, provides software and IT services for the financial services industry.

The company currently supports over 140 customers in Africa, across 15 countries with its customers ranging from banks, securities firms, hedge funds, pension funds, asset managers, energy and commodity trading firms, insurance companies, corporations and government entities.

According to a statement from the company, the office is expected to mainly serve customers in Kenya, Tanzania and Uganda.

STRATEGIC INVESTMENT

The firm has offices in Cape Town, Johannesburg and Tunis in Tunisia, with the Nairobi office being SunGard’s fourth regional operating office in Africa.

East Africa’s managing director, Mr Fred Manthe, said the region’s sizeable and strong developing financial services market presents an increasing need for sound market regulation and compliance.

“As we focus on the region’s positive economic growth and expanding client network, we are very excited about our strategic investment in East Africa and look forward to offering our customers a more efficient, competitive and industry-aligned solutions and service delivery,” said Mr Manthe.

SunGard managing director for Africa, Mr Alberto Fasana, said countries in East and Central Africa have undergone “a considerable and positive transformation” in recent years.

LEADING POSITION

“The sub-Saharan mobile money revolution alone has enabled Kenya to claim a leading position in the financial services arena, with banks offering a diverse range of new products such as loans, savings accounts, mortgages and insurance,” he said.

“We are supporting the local financial industry with the underlying technology and services which enable clients to bring new products to market quickly, automate their business processes, implement tighter risk management practices, and meet required regulatory demands.”

The Multinational firm provides solutions for financial services, the public sector and education with its software delivered via Software as a Service (“Saas”), in the cloud and on premise.

SOURCE: Daily Nation