Sanlam Kenya, backed by Kenyan investor Baloobhai Patel, to raise $19.3 million in rights issue
Sanlam Kenya, backed by tycoon Baloobhai Patel, plans a $19.3 million rights issue to cut debt, strengthen its balance sheet, and revive profitability.
Sanlam Kenya
Kenyan tycoon Baloobhai Patel transfers $1.62-million stake in Sanlam Kenya to Aksaya
This comes shortly after Patel transferred his 4.12-percent stake in Bamburi Cement to Aksaya, his private investment office.
Kenyan tycoon Rohan Patel gains $1.2 million in two weeks from stake in Sanlam Kenya
Patel owns a significant 20.7-percent stake in the Kenyan insurer.
Patrick Tumbo-led Sanlam Kenya records $2.66-million loss in first half of 2021
COVID-19-induced disruptions its exposed insurance assets and investments to emerging risks.