Old Mutual looking for expansion opportunities in Africa

Old Mutual wants to extent its presence in Africa.

According to the group Financial manager Ingrid Johnson's statements collected by Bloomberg, Nigeria, Kenya and Ghana have been identified "as key markets" for this project. Mozambique was also mentioned, following the recent NedBank (group subsidiary)'s acquisition of stake in the Mozambican bank Banco Unico.

As a reminder, Old Mutual's expansion-dedicated fund in Africa amounts to 386 million USD.