Mudavadi Group Pays Absa Sh3 Billion for Insurance Firms

Author: Patrick AlushulaPublished on: October 18, 2026Country: Kenya

Business & Economy

Mudavadi Group Pays Absa Sh3 Billion for Insurance Firms

An investment company linked to Prime Cabinet Secretary Musalia Mudavadi and Lamu Governor Issa Timamy will pay Sh3 billion to acquire majority stakes in two insurance firms. Absa Group announced in August that it had agreed to sell its 63.3 percent stake in each company to First Assurance Investments Limited. The purchase price was not disclosed at the time.

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