Kenya: CIC Insurance Earns Sh1.8bn From Land Sales

Kenya: CIC Insurance Earns Sh1.8bn From Land Sales

Nairobi -- CIC Insurance Group has raised Sh1.8 billion after selling two parcels of land near Tatu City and in Kajiado County.

CIC sheds land-heavy model in Sh1.8b liquidity pivot

CIC Insurance Group is moving away from its traditional “land-heavy” balance sheet to embrace a more liquid financial model. This transformation is currently centered on the disposal of non-core real estate assets in areas such as Kiambu and Kajiado. CIC is selling 200 acres near Tatu City, Kiambu and 495 acres in Kajiado. The Nairobi-based