Luxembourg-based InsuResilience Investment Fund, managed by BlueOchard Finance, is acquiring 39.25% shares in the capital of Nigerian insurer Royal Exchange General Insurance Company Limited (REGIC).
Money generated through this operation will enable the non-life insurance company to reinforce its services and products targeting agriculture players in Nigeria. “The company is uniquely positioned to capture the opportunity presented by 30 million under-insured small-scale farmers in Nigeria. In the midst of the Nigerian economy rebalancing its major economic sectors, REGIC has repositioned itself to meet the ever-changing needs of their clients to take full advantage of the opportunities that arise in the agriculture space,” said Ernesto Costa, Senior Vice-President Private Equity at BlueOrchard.
In Nigeria, the insurance market very often excludes small farmers because of high premiums charged by insurers, the International Finance Corporation reported in a March 2019 article. Yet, these actors, who operate in large numbers in the agricultural sector, could benefit from tailored insurance services.
Chamberline MOKO
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 m...
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
• Ghana signs a deal with eLearning Africa to expand digital learning access across the country.• The partnership focuses on deploying modern digital...
Ghana launches the Oncology Nurse Leadership Program (ONLEP) to train specialized oncology nurses from seven African countries. The five-year...
Ivanhoe Mines signs deal covering 100% of Kamoa-Kakula smelter’s copper output. The smelter will process up to 500,000 tonnes annually, starting at...
African gas projects drive significant contracts for Asian shipbuilders, especially for Floating Liquefied Natural Gas (FLNG) units. South Korean...
Kolmanskop offers a haunting blend of lost wealth, colonial history, and the unstoppable force of nature. Located just a few kilometers inland from...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...