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CIC Insurance raises Sh1.8bn from Kiambu, Kajiado land sales

CIC Insurance boosts liquidity by Sh1.8B from 150-acre land sale, reducing debt and unlocking property gains.

Photo credit: Shutterstock

By  George Ngigi

Correspondent

Nation Media Group

CIC Insurance Group has raised Sh1.8 billion from the sale of 150 acres in Kiambu and Kajiado Counties, boosting its liquidity and unlocking gains from its portfolio of investment properties.

The Nairobi Securities Exchange-listed firm said it sold 50 acres of land adjacent to Tatu City in Kiambu and 100 acres in Kajiado.

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