Capital increase for Ghana Reinsurance

Ghana Reinsurance will raise its capital from 70 million GHS (18.6 million USD) to 380 million GHS (99.8 million USD) before the end of the current year. The government has granted its consent to the move.

The new funds will be designed to consolidate the company that has embarked on an expansion strategy towards new markets. Ghana Reinsurance is already present in Cameroon and in Kenya.

The group’s management has said it is able to raise additional capital with local companies. In 2015, Ghanaian reinsurer posted a turnover of 125.55 million GHS (33 million USD), a year-on-year increase of 20.27%. Its after-tax profits amounted to 28.66 million GHS (7.5 million USD) a year ago.

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