Africa Development Corporation buys 25% stake in insurer Resolution Health.

By bne IntelliNews January 14, 2011
German private equity fund Africa Development Corporation has bought a 25% stake in Kenyan health insurer Resolution Health for KES 184mn (USD 2.3mn), Business Daily Africa reported. The funds will be used to expand the company's operations to Rwanda, Uganda and Burundi. The money will be used to strengthen our core capital as we expand to new markets, Peter Nduati, CEO Resolution Health, was quoted as saying. Resolution Health provides medical insurance services to individuals, families and groups. The company currently takes care of over 42,000 individuals and 870 companies in Kenya. The African Development Corporation focuses on investments in the banking and insurance markets in sub-Saharan Africa.

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