AfricInvest acquires minority stake in insurance company REGIC

NIGERIA – AfricInvest, a Pan-African asset management company, has acquired a minority stake in Royal Exchange General Insurance Company (REGIC). According to AfricInvest, the investment was made through its evergreen private equity fund, FIVE, in the form of a subscription to a capital increase. “The desire to participate in more large-ticket corporate transactions, diversify existing business and product lines as well as diversification of delivery channels were some of the key drivers behind this push for additional working capital by REGIC,” AfricInvest said in a statement. “The additional working capital…

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Private equity firm AfricInvest acquires minority stake in Fidelity Bank Ghana

GHANA – AfricInvest, a pan-African investment and financial services firm, has acquired a minority stake in Fidelity Bank Ghana Limited, Ghana’s largest private bank. The acquisition was carried out through its two funds, AfricInvest Fund IV and FIVE (AfricInvest Financial Inclusion Vehicle), from Kagiso Tiso Holdings Proprietary (KTH), a South African private investment company, AfricInvest and Fidelity Bank Ghana said in a joint statement. Founded in 1998, initially as a discount house, Fidelity Bank obtained its universal banking license in 2006 and has since grown to be the largest privately-owned…

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