Zurich sell-off to support BEE

Zurich Financial Services Group is to sell a 10% stake in South African Eagle Insurance to Royal Bafokeng Finance (RBF) as part of the Black Economic Empowerment (BEE) initiative, and will develop financial products to people in the North West province of South Africa. The financial products are likely to be insurance-based savings and investment vehicles. These will be targeted at people in the province but could also expand to include other parts of the country. Kgosi Leruo Molotlegi, king of the Royal Bafokeng Nation, said: "The acquisition of this interest is an important step in br...