Mutual Benefits increases its capital

Mutual Benefits Insurance continues its capital increase. The Nigerian insurer has extended the application period of the 2 billion NGN (5.5 million USD) rights issues, offering thus to the shareholders more time to pick up their shares.

This operation's profits will allow the company to carry out its growth plan, develop its computer infrastructure and provide additional operating capital.

The Nigerian insurer started last year a repositioning which aims to enhance its its market penetration and increase its productivity.

According to Akin Ogunbiyi, chairman of Mutual Benefits, the company's strategic objective is to become the Nigerian number one insurance company in terms of growth and profitability.

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