Prudential has bolstered its presence in Africa by acquiring a majority stake in Group Beneficial, which provides savings and protection products to over 300,000 customers.
The acquisition was announced in March and closed on 10 July.
Group Beneficial operates from 41 branches across Cameroon, Côte d’Ivoire and Togo.
Financial details were not disclosed, and it was also not stated how much of the company Prudential has acquired.
The UK life insurer said the deal demonstrated its “continued commitment to Africa following the launch of businesses in Ghana, Kenya, Uganda, Zambia and Nigeria in the last five years”.
Group Beneficial will rebrand and trade under the name Prudential Beneficial and Prudential Belife in due course.
