Nairobi, Oct. 18 -- 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 from South Africa's Absa Group.

Absa Group in August, announced it had inked an agreement with the First Assurance Investments Limited to sell its 63.3 percent stake each in the two entities without disclosing the purchase price.

Published by HT Digital Content Services with permission from Business Daily....