Absa Sells Two Kenyan Insurers to Mudavadi-Linked Investment Firm

Kenya · FINANCE Key Facts —Seller and stake: Absa Group Limited is selling its entire 63.32% shareholding in First Assurance Company Limited and Absa Life Assurance Kenya Limited. —Buyer: First Assurance Investments Limited, an existing shareholder linked to Prime Cabinet Secretary Musalia Mudavadi, will become 100% owner of both insurers. —Estimated price: Kenyan business outlets…