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Home Companies and Markets

South Africa’s Liberty to buy 75 pct stake of Nigerian long-term insurer

metro by metro
February 24, 2017
in Companies and Markets
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South Africa’s Liberty Holdings will acquire a 75 percent stake in a Nigerian long-term insurer for 160 million rand ($12 million), the company said on Friday, pursuing its strategy of expanding on the African continent.

Liberty, South Africa’s number four insurance firm by market value, is expanding beyond its home base to parts of Africa, where demand is rising from a growing middle class.

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Further details of the deal were not disclosed.

 

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