Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Kenya's Centum says to sell insurance firm stake to Old Mutual

10 January 2015, 10:40

Nairobi -  Kenya's Centum Investment Company said it had agreed to sell its 13.75 percent stake in regional insurance firm UAP Holdings to Anglo-South African financial services company Old Mutual.

The acquisition by Old Mutual is in line with its aim to expand in Sub-Saharan Africa, where it has spent 700 million rand ($60 million) of a 5 billion rand programme to acquire businesses, focusing on Ghana, Kenya and Nigeria.

Centum has investments in both listed and private firms and is diversifying into Kenya's fast-growing property sector, while Kenyan-headquartered UAP Holdings is also present in Uganda, South Sudan, Rwanda and the Democratic Republic of Congo.

Centum also said in its statement late on Thursday that Chris Kirubi, one of its directors and shareholder, had separately agreed to sell another 9.58 percent stake in UAP to Old Mutual.

No financial details were disclosed for either stake sale.

For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page!

- Reuters


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Cyril Mike Odhiz
Kenyans furious on young lady aft...

A young Kenyan woman is the talk of town after she posted a photo with her elderly lover after a round of steamy sex, or so the photo suggested.  Read more...

Submitted by
Kiplangat langat
Uhuru could be a one term Presid...

Bomet governor Isaac Ruto has said that President Uhuru Kenyatta could be a one term President if he fails to increase allocations to the counties. Read more...

Submitted by
Mody Sammy
35 year old farmer a new milliona...

A 35 year old farmer from Mpeketoni Lamu county has become the latest millionaire in town as she became winner in the ongoing ‘Shinda Mamili na Story Ibambe’. Read more...

Submitted by
Shakila Alivitsa
Leave your past relationship bagg...

Leave your past relationship baggage at the door when you start a new relationship. Read more...

Submitted by
Shakila Alivitsa
Advice from a young married Kenya...

I was just going to get water in the office kitchen and thought a simple hi was fine until I ended up in an hour long conversation with someone. Read more...

Submitted by
Shakila Alivitsa
Helping you find the type of man ...

To put it simply, you can’t go looking for fish in a meat market; you have to go to a fish market. Read more...