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Growing middle class Africa draws insurers

European and South African insurers are buying local firms focusing mainly on life insurance and pensions

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A study of 11 sub-Saharan economies concluded that the "middle class" had risen from 4.6 million to 15 million since 2000 and would be more than 40 million by 2030.

London

A GROWING middle class in sub-Saharan Africa is enticing European and South African insurers to buy local firms focusing mainly on life insurance and pensions, in the face of mature markets and strong competition at home.

Rapid economic growth in countries such as Ghana,

sentifi.com

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