CIC stake in Takaful Insurance falls to 7pc after Djibouti firm deal

CIC Insurance’s stake in Takaful Insurance of Africa has dropped to 7.4 percent. This is after a Djibouti-based firm, Tamini Insurance SA, acquired a 65 percent holding in Takaful Insurance, diluting the holding of the Nairobi Securities Exchange-listed insurer.

Tamini acquired the Sh500million controlling stake in Takaful in April 2025, diluting all other shareholders, including CIC, to a combined 35 percent shareholding.