Absa Group Gets KSh3Bn After Selling Stakes in First Assurance and its Life Business

Absa Group will get KSh 3 billion (US$23.2 million) for its 63.32% stakes in First Assurance Co and Absa Life Assurance Kenya. First Assurance Investments Ltd, is majority owned by Kenya’s Prime Cabinet Secretary Musalia Mudavadi. The price is below the KSh 3.8 billion that Absa Group had been expected to be paid. The…