Tamini Insurance acquires stake in Takaful Insurance of Africa

Tamini Insurance, the Djibouti-based Takaful insurance company, has acquired a 65% stake in the capital of Takaful Insurance of Africa (Kenya).

The transaction has been approved by the Competition Authority of Kenya (CAK).

Details of the deal have not been disclosed.

Classified as a merger under current regulations, the acquisition is not expected to have any adverse effect on market competition.