LeapFrog Investments, a specialist investor in financial services in Africa and Asia, has successfully exited from leading Ghanaian insurer Express Life, selling its majority stake to Prudential Plc for an undisclosed sum.
LeapFrog’s lead partner in Ghana, Doug Lacey, said, “Our experience with Express Life demonstrates the value of specialist fund managers who can source promising investment opportunities in emerging markets and work closely with these companies to create customer and shareholder value. And now we see that they become attractive to global players also committed to building sustainable and impactful businesses.”
When LeapFrog invested in Express Life, the company was reaching some 60,000 people. Today, the company reaches over 730,000 people, most of them first-time users of insurance and savings products.