The shareholders of insurance group Jubilee Holdings approved on Dec 15 the sale of a majority stake between 51% and 66% in the group’s five African subsidiaries.
The transaction covers Jubilee's short-term general insurance businesses in Kenya, Tanzania, and Uganda and also the short-term general and medical insurance segments in Burundi and Mauritius.
These shares were acquired by the German insurance group Allianz as part of a $100 million strategic partnership, which began last September. Upon completion of this transaction, Jubilee will become a minority shareholder in these entities.
Allianz is committed to transferring skills and capabilities in retail, digital insurance, and micro-insurance to Jubilee's businesses. The finalization of this strategic agreement will be marked by the approval of regulatory authorities in the five African markets where Jubilee operates.
Chamberline Moko
Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...
Dangote to list $20-25 billion refinery within five months NNPC holds 7.25% stake; dividends...
DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private ...
Algeria’s NESDA and the Algerian‑Saudi Investment Company sign cooperation deal focused on researc...
Siguiri mine produced 289,000 ounces in 2025, up 6% Fourth-quarter output rose 15%, boosting annu...
DRC, U.S. sign five-year health funding agreement Deal could unlock $900 million for disease programs DRC to contribute $300 million by...
Egypt seeks removal of non-tariff barriers on food exports Indonesia citrus imports up 45% in five years Egyptian Foreign Minister Badr Abdelatty...
Nigeria’s AKK gas pipeline to launch July 2026 $2.8 billion project links southern fields to north Pipeline to boost CNG use, cut fuel costs The...
Africa exported 22,467 tons organic cocoa in 2024 EU organic rules cut exports and compliant farmland Africa remained top exporter with 53.3% global...
More than 500 media leaders gathered in Nairobi on Feb. 25–26 for the fourth African Media Festival under the theme “Resilient Stories: Reinventing...
Located about 500 kilometers southwest of Cairo, between the oases of Bahariya and Farafra, the White Desert stands out as one of Egypt’s most distinctive...