South Africa's Liberty to spend up to $80M on two Nigeria deals

Casper Troskie, CFO, Liberty Holdings

Liberty Holdings plans to invest up to $80 million on two deals in Nigeria by year-end, as part of a five-year strategy by South Africa‘s No.4 insurer to expand further into sub-Saharan Africa, its chief financial officer said.

Like rivals, Liberty is expanding elsewhere in Africa as growth prospects attract the attention of corporate executives and promise to increase the number of people who can invest in insurance to protect their wealth.

“We have been negotiating with some parties in Nigeria to acquire some stakes in their businesses and we’ve made quite good progress in that regard,” Casper Troskie, Liberty’s chief financial officer, said in an interview.

Read more: South Africa’s Liberty to spend up to $80 mln on two Nigeria deals | Reuters