Company intends to have insurance units in over 12 African countries

TA Holdings (TA), a Zimbabwe-based divesified company, is all set to expand its insurance business across Africa in the next few years – reported Bloomberg.

The company intends to have insurance units in over 12 African countries, by 2012.

The company also strategises to establish a life insurance business outside of Zimbabwe. TA is expanding after a decade-long recession in Zimbabwe, caused by a failed land reform program that slashed export earnings.

While the company‚Äôs Sable fertilizer business is currently operating at 15% of its installed capacity, production may increase if the Zimbabwean economy maintains its recovery so far this year. Also, this has prompted the government to forecast the country’s economic growth of 4%.