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Central bank reviewing sale of stake in Rwandan insurer

The National Bank of Rwanda is reviewing a shareholder agreement for the sale of 30% of local insurer BK Insurance to Mauritius-based Swan General Ltd., The New Times of Rwanda reported May 31.

BK Group Plc CEO Diane Karusisi said she expects that there will not be any challenges to the central bank's approval of the transaction, the newspaper said. BK Group is the parent of Bank of Kigali.

Swan General recently bought stakes in Zambia and Zimbabwe-based insurance companies as part of its expansion plans, the report noted.