Nigeria’s Continental Re acquires 100% ownership of Botswana subsidiary

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By Charlie Wood
Following its recent acquisition of a minority 40% stake in Continental Reinsurance Ltd (Botswana), Continental Reinsurance Plc now holds 100% of the issued ordinary share capital in the subsidiary.

Continental Re says the acquisition entrenches its stature as a strong pan-African reinsurance brand and bolsters its commitment to delivering value to its customers and long-term sustainable profit growth.

Continental-reinsurace“The acquisition means not only growth in economic size, but also presents us with an opportunity to enhance our strategic influence and broaden our market appeal through the expansion of stakeholder segments that we actively interact with,” said Group Managing Director, Dr Femi Oyetunji.

“Building on our talent growth and diversity strategy, we have appointed Mr Francis Nzwili, previously with our Nairobi subsidiary, as Managing Director of the Botswana business.

“Francis comes on board with a wealth of experience in underwriting and business development that significantly complements the strength of the existing team.

“The position of Managing Director was previously held by Mr Cas Hansa who has taken up new strategic responsibilities as Group Head: Underwriting and Claims,” he added.

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