Guinea Insurance Plc Secures Shareholders' Approval for Capital Raise

Guinea Insurance Plc has obtained shareholders' approval to increase its minimum issued share capital from N4.0 billion to N8.0 billion, along with plans to raise an additional N15.0 billion through a combination of rights issue and private placement. The move is part of a strategic initiative to enhance the company's financial position, underwriting capacity, and operational efficiency.

The Chairman, Temitope Borishade, described the approval as a pivotal milestone in the company's transformation journey. The plan has also received regulatory confidence, with the National Insurance Commission (NAICOM) providing its approval.