Mauritius Firm, British American Investment, Eyes Africa

Online, June 16, 2011 (Newswire.com) - Taking advantage of positive developments in its main activities, Mauritian company British American Investment Co. (Mtius) Ltd pursues prospecting missions in Africa.

A team comprising senior executives of the group is back to the Indian Ocean island after a visit to Sub-Saharan Africa where they established contacts with potential investors and regulators in South Africa and Botswana.

This initiative comes at a time when British American Investment is also exploring the possibility of investing in food production and renewable energy in Mozambique together with British firm Sun Biofuels.

According Rishi Sookdawoor, President & CEO of the insurance company (BAI), many businessmen said they were keen to create mutually beneficial partnerships with the group's subsidiaries.

"Business opportunities in Africa and their interest to partner with us in the financial services sector are very interesting. We will examine some proposals that seem to offer promising prospects in the very near future, "said Rishi Sookdawoor.

Thus, the group has initiated procedures to appoint a specialized firm to conduct several feasibility studies.

British American Investment Group also plans to use the network and the growth potential of its subsidiary, British American Investment Kenya (BA Kenya), to pursue its expansion strategy in Africa.

Besides being the holding company of the leading life insurance and a fund management company in the country, BA Kenya has just opened a new insurance company in Uganda.

In addition, comforted in the dynamism of its African interests, particularly in 'Equity Bank' (A + rating), BA is currently seeking regulatory approval of the country to be listed on Kenya's Stock Exchange.