[quote=Cde Monomotapa]And it gets better Comrades
Germany’s DEG buys into pan-African reinsurer Zep Re
German public investor, DEG, has bought into pan-African reinsurer, Zep Re, underlining the growing interest in Kenya’s insurance industry.
DEG bought an 11 per cent stake at an estimated Sh1.3 billion. Zep Re is majority owned by Kenya Re-insurance Company and is based in Nairobi
“New shares were created to bring them on board so there was dilution of existing shareholders,” said a source within the company who is however not authorised to speak to the media.
The company’s managing director is currently out of the country. Kenya Re’s stake in Zep Re is expected to drop from 21 per cent to 16 per cent following the entry of DEG and African Development Bank which took a 14.5 per cent stake in 2012.
http://www.businessdaily...4/-/fhe9nl/-/index.html[/quote]
The associate's performance: Zep-Re's net profits rise by 24 per cent
The recently opened Abidjan office in Cote d’Ivoire serves the West Africa market, while the Harare office in Zimbabwe serves Southern Africa.
In addition to its traditional shareholders who are member countries, insurers, reinsurers and pension funds in the Comesa region, the company has attracted capital from development finance institutions such as the African Development Bank and the German government investment arm DEG.
- See more at:
http://www.the-star.co.k...nt#sthash.plADKp3E.dpuf
Linking AfDB, DEG, PTA Bank & Afreximbank's - trade & development finance & investment activities in Africa, further against the WEF in Abuja recently & the Chinese PM visit...
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