adminmarket and that it lacked clear association with its subsidiaries.
In a statement, the company’s secretary Mrs Sheila Lorimer said it was approved that the company’s name be changed.
“As a special resolution, that subject to the written approval of the Registrar of Companies in terms of Section 25 of the Companies Act, the name of the company shall be changed form Africa First ReNaissance Corporation limited to First Mutual Holdings Limited,” said Mrs. Lorimer.
She added that leading international and regional financial services brands emphasise on the strength of the balance sheet.
“Leading international and regional financial services brands emphasise on balance sheet strength though the use of the mother brand across most legal entities.
In contrast, Afre’s use of ‘branded house’ architecture (collection of standalone brands) dilutes the market’s perception of its size,” said Mrs. Lorimer.
The rebranding will see the company compete on both international and local markets.
“The new name draws in the history and legacy of the brand to emphasise stability. This is a name that has strong meaning and equity within the market and allows the brand to compete on both local and international level,” said Afre corporation.
The chosen name will inspire market confidence and heralds the changes that will have direct a benefit to shareholders.
The survey was conducted to ensure that reputation management initiatives reflect the group’s business strategy as defined by current leadership.
It also ensures that key stakeholder concerns are understood, prioritised and addressed to deliver relevant messaging.
“Afre Corporation needs to be perceived as a customer-centric non-banking financial services group that is focused on risk management, wealth creation and wealth management,” said the group.
Afre recorded an increase of revenue by 10 percent to US$95, 9 million in the year ended December 2012 results on the back of improved performance from the health insurance business and short-term businesses.
Online Reporter