AfricaRe,
owned by 41 African states, approximately 107 insurance/reinsurance companies
and non-African strategic investors, is the continent’s premier reinsurance
corporation, operating across 41 African countries.
AfricaRe’s
membership of AFC was officially sealed at a signing in Lagos last Thursday. AfricaRe’s
membership of AFC advances AFC’s growth strategy for its country membership and
greater diversification of its shareholding.
In
recent months, the AFC has grown its country membership in Francophone, East
and Southern Africa, with the accession in 2017 of Benin, Kenya and Zambia,
respectively. The AFC now seeks to consolidate this success by further
expanding its shareholder base.
The
President and Chief Executive Officer of AFC, Andrew Alli, was quoted as saying, “We
welcome African Reinsurance Corporation as a member and shareholder of AFC. As
the first multilateral financial institution to become a member of AFC, this is
a key milestone for us, as the
corporation seeks to further diversify its shareholding.
“We are, therefore, pleased to welcome AfricaRe’s premier
reinsurance corporation into membership of AFC and look forward to
collaborating with AfricaRe to provide innovative solutions to the development
and financing of infrastructure assets in Africa.”
The
Group Managing Director/Chief Executive Officer of AfricaRe, Corneille Karekezi, said, “As a corporation with both private and public shareholders,
we see many synergies with the AFC in the pursuit of African continent
development agenda as well as business growth. Indeed, we have long admired
AFC, and the transformative impact it has made across many of the geographies
in which we operate, while delivering competitive returns. We are therefore
delighted to become a part of one of Africa’s best success stories. (Punch)
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