Guarantee Investments Limited has actually concurred to get Absa Group’s 63.3 per cent bulk stakes in Absa Life Assurance Kenya and First Assurance Company Limited, an offer reported to be worth an approximated KSh 3 billion.
Absa revealed the deal in August 2026 without revealing the agreement rate. The KSh 3 billion price quote originates from a Business Daily report, which likewise put the combined evaluation of the 2 insurance companies at around KSh 4.77 billion. The celebrations have not openly verified the figure.
The acquisition undergoes clearance from the Competition Authority of Kenya. Both sides have actually stated they target conclusion before completion of the existing fiscal year, without any particular date provided. Till approval is given, the offer stays a proposition instead of a finished deal.
Guarantee Investments Limited is associated with Prime Cabinet Secretary Musalia Mudavadi and Lamu Governor Issa Timamy. According to public computer system registry records pointed out in the report, Exclusive Holding Limited, a company connected to Timamy, holds a 47.5 percent stake in the financial investment automobile. The staying 52.5 percent is held through Syndicate Nominees, which Mudavadi revealed throughout his 2022 Cabinet vetting as his own business.
Mudavadi likewise holds a direct 12.35 percent interest in First Assurance Company Limited through Syndicate Nominees. Integrated with the financial investment car’s interest, he holds a reliable stake of 21.26 percent in the insurance coverage company, according to the windows registry records pointed out in the report.
Other investors in the insurance provider consist of Stephen Githiga, the previous president of First Assurance, and Sasini, each holding 4 percent. Chandaria Ventures Limited, related to Darshan and Neer Chandaria, holds 1.67 percent, while Epoch Investments Limited, connected to Jambojet chairman Ayisi Makatiani, and Absa Pension Services Limited each hold 0.84 percent.
The deal would return the 2 insurance providers to investors who offered to Absa in 2015, when the loan provider run under the Barclays Africa brand name, for KSh 2.2 billion.
Guarantee Company Limited was developed in 1930 as Prudential Assurance Company before Kenyan financiers got the whole company from its British owners in 1991.
The Competition Authority of Kenya will examine whether the acquisition fulfills the nation’s competitors and public interest tests before the celebrations can conclude the offer.
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