Nigeria: Successful presidential election a major boost to economy

The stake in Africa Re will allow Axa SA to get a “more complete understanding on insurance markets’ evolutions across the whole continent,” Granier said.

Before its Nigerian acquisition, Axa SA had operations in six African countries, including Morocco and Senegal, which contributed US$475 million to revenue last year. Axa SA studying opportunities to enter other African countries including Egypt, Ghana and Kenya through acquisitions or by starting new businesses.

Source: Bloomberg Business

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