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Gras Savoye plans to inaugurate two new branches in Ethiopia and Angola in the upcoming period, said Hamed Mabrouk, chairman of Gras Savoye Egypt – Insurance Broker.
The company has expanded in Kenya, Tanzania, Uganda and Mozambique in the last period. The company has existence in all African countries except for some countries in East Africa.
The African continent is a promising market for all sectors especially insurance as the continent has many investment opportunities, he elaborated.
Mabrouk has expected insurance sector to grow by about 10% in the next 10 years because Africa has high population growth rates and is still in need for new products unlike the European market.
