Jubilee Holdings Limited, a financial services holding company, with its headquarters in Nairobi, Kenya, is eyeing Ethiopian market, board chairman Nizar Juma disclosed on Tuesday.
Juma said the insurer is waiting for Ethiopia to relax its laws in the sector.
“Ethiopia looks set to be a promising market and we are waiting for the country to open up its laws to foreign companies,” said Juma.
Similar market dynamics will be at play for Jubilee, in Ethiopia where the insurance industry is relatively under-developed compared to those of other African countries.
Most insurance companies in Ethiopia have sister banks and generate business by using them as a distribution channel.
Jubilee has operations in Uganda, Tanzania, Rwanda, Burundi and Mauritius.
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