CIC Insurance earns Sh1.8bn from land sales
CIC Managing Director and CEO Patrick Nyaga said the proceeds will strengthen the company’s balance sheet, boosting liquidity and supporting overall performance. Kenya breaking news | Kenya news today |..
✨ Key Highlights
CIC Insurance Group has generated KShs 1.8 billion from the sale of two land parcels located near Tatu City and in Kajiado County. This strategic move aims to bolster the company's financial standing and liquidity.
- Proceeds of KShs 1.8 billion were secured from the sale.
- The sales involved a 50-acre block neighboring Tatu City and a 100-acre parcel in Kajiado.
- According to Patrick Nyaga, Group Managing Director & CEO of CIC Insurance, these transactions will significantly strengthen the company’s balance sheet and improve liquidity.
- CIC Insurance Group Plc continues to hold substantial land investments, including 200 acres near Tatu City and 495 acres in Kajiado.
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Kenyan Financial Sector Sees Land Sale, New SME Platform, and Oil Revenue Warning - February 2026
CIC Insurance Group has generated KShs 1.8 billion from the sale of two land parcels located near Tatu City and in Kajiado County. This strategic move aims to bolster the company's financial standing and liquidity. In other business news, Agridex International has partnered with Tradeflow Capital Management to launch a new digital payments and trade finance platform, Loam. The platform is aimed at supporting SMEs in Kenya and across Africa, particularly in the agricultural and commodity sectors. Meanwhile, Kenya's early oil pilot schemes exposed significant governance and revenue management weaknesses, prompting a stark warning from Controller of Budget Margaret Nyakang’o before full-scale crude exports commence.
