Kenya Re targeting North Africa
Kenya Re pursues the diversification strategy of its activities. Following the establishment of a company in Abidjan (Côte d’Ivoire) and the opening in February 2016 of a subsidiary company in Zambia, the Kenyan reinsurer is now turning its attention to North Africa. The establishment of an entity in this region seems to be the next logical move.
A new regional hub is likely to see the light of day in Egypt and also in Sudan. Uganda is also on the agenda after the announced news of its imminent reform of its legal framework.
The reinsurer, whose capital is detained at 60% by the State, has seen its profits rise from 1.50 million KES (14 900 USD) in the first half of September 2015 to 1.59 million KES (15 800 USD) twelve months later.
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