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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