Liberty Life has formed a joint venture with East African Underwriters, an Ugandan insurance operation. Liberty's total investment is expected to be less than R10million.
The transaction is a new development in Liberty's stated intention to expand its business interests in Africa, and strategically complements its existing joint venture with Standard Bank in Namibia.
Liberty Life will continue to invest in opportunities in selected markets in Africa, which remains a key focus of the groups growth strategy.
Following the proposed acquisition of STANLIB, Liberty will be able to offer a comprehensive range of wealth and risk products to these markets.
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