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CFC Initiates Restructuring, Seeks Strategic Partner

The outcome is expected to be the separate listing of its insurance companies

Kenya-based CFC Stanbic Holdings (CFC) plans to reconstruct its operations which would result in the separate listing of its insurance firms, reported Reuters, quoting the company’s managing director.

The company, which is majority held by South Africa’s Standard Bank (SBKJ), in addition to CFC Stanbic Bank and an investment management service company, also runs Heritage Insurance and CFC Life.

Kitili Mbathi, managing director of CFC, said: “This re-alignment may involve the introduction of a strategic partner to some of the businesses and a probable separate listing of the businesses on the Nairobi Stock Exchange.”

Mr. Mbathi informed that additional details would be provided once the discussions were successful.