Mauritius Union Assurance (MUA) is to invest 30 million USD to settle its business in Kenya. Phoenix Transafrica Holdings, the group’s subsidiary shall be in charge of making such an investment.
This operation will allow the group to acquire a considerable position as a participant in the Kenyan market. MUA intends to enhance its activity in Eastern Africa [4] which currently represents only 23% of its turnover. Its aim is to develop the activity in the region during the three upcoming years.
Founded in 1948, the MUA has been operating in Eastern Africa since 2014. During that year, the group made the acquisition of Phoenix Transafrica Holdings. The latter controls shares in its subsidiaries in Kenya, Tanzania, Uganda, and Rwanda. In Kenya, MUA holds a 66 per cent shareholding in MUA Insurance Kenya.
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