Published On: Wed, Sep 3rd, 2014

Liberty takes aim at West Africa market

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liberty-life-002INSURER Liberty is finalising talks to acquire a business in Ghana and hopes to enter the West African country in the third quarter of this year.

“We are making progress in Ghana, very good progress. We are still confident we will make progress in Nigeria,” Liberty CEO Thabo Dloti said on Friday after the release of the company’s six-months results to end-June.

“In Ghana, we are looking at insurance and asset management. We have made more progress on the asset management side.”

Liberty, which has a presence in about 15 African countries, has had difficulty in clinching deals.

It had expressed interest in acquiring financial services firm Alexander Forbes as part of a plan to grow in the corporate market.

Last year, it had an interest in Guardrisk, a business previously owned by Alexander Forbes, but nothing came through.

On Alexander Forbes, Mr Dloti said: “I think it’s known we had an interest. We are trying to grow in the corporate market not only in South Africa. We did express interest but it did not come through.”

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