AfricInvest announced today, Wednesday, October 6, 2021, the acquisition of a minority stake in the Nigerian insurance company Royal Exchange General Insurance Company (REGIC). The investment was made through its private equity fund, FIVE (Financial Inclusion Vehicle), in the form of a subscription to a capital increase.
REGIC, one of the largest non-life insurance companies in Nigeria, was established in 2008 as a subsidiary of the Nigerian group Royal Exchange Plc. It has been running for over a century.
The FIVE fund joined the REGIC stake along with the Royal Exchange Group and the InsuResilience Investment Fund (IIF), managed by BlueOrchard, the world’s leading impact investing company. The IIR is an initiative created by KfW, the German development bank, on behalf of the German Ministry for Economic Cooperation and Development.
AfricInvest is one of the leading private equity firms in Africa with more than $ 1.9 billion in funds raised. Founded 27 years ago, AfricInvest has made more than 180 investments in more than 25 countries on the African continent in various sectors, thus contributing to significant socio-economic development, mainly through revenue growth and improved profitability of companies in your wallet.
Posted on 10/06/2021 12:24:09 PM