Kenya's Centum to sell insurance firm stake to Old Mutual

Chris Kirubi, Chairman of Centum Investment Company

Kenya‘s Centum Investment Company said it had agreed to sell its 13.75 percent stake in regional insurance firm UAP Holdings to Anglo-South African financial services company Old Mutual.

The acquisition by Old Mutual is in line with its aim to expand in Sub-Saharan Africa, where it has spent 700 million rand ($60 million) of a 5 billion rand programme to acquire businesses, focusing on Ghana, Kenya and Nigeria.

Read more: Kenya's Centum says to sell insurance firm stake to Old Mutual | Reuters.

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