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Ghana: Ghana Re seeks government approval for recapitalization

June 26, 2014 - 6:17am


Ghana Reinsurance Company Ltd. is looking to recapitalize with an additional 300 million Ghanaian cedi ($99 million) and is waiting for approval from the government – the reinsurer's lone shareholder, reports Graphic.com.gh.

The reinsurer's board chairman Lionel Molbila said the move will help the company bolster operations in Ghana and other countries. Mr. Molbila said the reinsurer is "certain that with increased capacity from recapitalization, we will boost business operations in our offices in Kenya and Cameroon and expand into other selected markets."

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