Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
BK Group to issue shares in Rwandan insurers buyout
By using shares of BK General Insurance to pay for the acquisition, the transaction will have no impact on the cash position or ownership of the listed parent company.
Cross-listed Rwandese lender BK Group will see its general insurance subsidiary, issue shares to current owners of Sonarwa life and general insurance units in a merger deal valued at billions of Rwandan Francs.
The company, listed on Nairobi and Kigali stock exchanges, says the proposed buyout of the Sonarwa units, which also operate in Rwanda, will help it grow its business and capture life insurance premiums that it has been ceding to other providers.
