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.

Related Articles

South Africas Exxaro mulls firing striking coal miners.

South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more

South Africas Telkom says there is no decision to lay off 13,000 employees.

South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more

BP, Masana Petroleum Solutions sell LPG business in South Africa.

Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss