Continental Reinsurance Plc has announced a change in the ownership structure of Continental Reinsurance Ltd (Botswana). After its recent acquisition of a minority 40% stake in the company, through its holding company, CRe African Investments Limited (“CRAFIL”), from Botswana Insurance Com inpany Ltd (BIC), Continental Reinsurance now holds 100% of the issued ordinary share capital in the subsidiary.
Group Managing Director, Dr Femi Oyetunji, commented: “The acquisition means not only growth in economic size, but also presents us with an opportunity to enhance our strategic influence and broaden our market appeal through the expansion of stakeholder segments that we actively interact with.”
“Building on our talent growth and diversity strategy, we have appointed Mr Francis Nzwili, previously with our Nairobi subsidiary, as Managing Director of the Botswana business. Francis comes on board with a wealth of experience in underwriting and business development that…
Source: Guardian Newspaper