Jubilee Insurance starts activities in DR Congo and is gearing for establishment in Ethiopia and Madagascar
Saturday, 17 October 2015 16:45
Kenyan group Jubilee Insurance announced, on 12 October, having started operations in the Democratic Republic of Congo as part of an expansion programme in sub-Saharan Africa which also includes having a presence in Ethiopia and Madagascar prior to the end of the current year.
Commenting during the signing of a partnership agreement with automobile distributor CMC Motors, Patrick Tumbo (photo), Managing Director of the insurance company listed on the Nairobi Securities Exchange, clarified that “negotiations for the acquisition of two companies in Ethiopia and Madagascar are in the final stages”.
Mr. Tumbo also revealed that negotiations on a third company have started, without giving more details on this operation.
Jubilee Insurance is a subsidiary of Jubilee Holdings Ltd, a holding specialised in insurance, based in Nairobi and owning subsidiaries in Burundi, Mauritius, Tanzania, Uganda and Pakistan.
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