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. |
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 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
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