Rob Bygrave, the CFO of Klapton, announced that Klapton had been accepted as a member of the AIO (African Insurance Organisation). He said that this was another step to promoting the name of Klapton across Africa by joining such a respected organisation. The AIO, which was established in 1972, is a non-governmental organisation recognised by […]
Klapton announces transaction with Sevenseas Investment Fund
SevenSeas Investment Fund, an umbrella fund incorporated in Luxembourg, has launched its first investment Sub-Fund, 7SEAS ONE, to raise $100m for investment in the dry bulk vessels sector. SevenSeas Investment Fund (www.7seasfund.com) is regulated by the CSSF (Luxembourg Financial Supervisory Authority) and supervised by Fuchs Asset Management S.A, who act as the Alternative Investment Fund […]
Ethiopia: Tension or Calming Down in Oromia Region
Klapton refrains from extending or increasing surety exposure in Oromia region Photo by Andrew Heavens / CC BY-NC-ND There is an uneasy calm in Ethiopia’s Oromia region following the deaths of 15 civilians at the hands of federal security forces, with dozen also injured from gunshot wounds. Locals said these “riots” are a result of […]
Klapton mining assistance program – strong flows in 2017
Gold mines in 6 countries have benefitted from Klapton Insurance assistance Over the course of 2017 Klapton has generated significantly increased activity in its mining assistance guarantee program, primarily in Africa sub-saharan countries. 15 gold mines in 6 countries have benefitted from Klapton’s assistance in arranged heavy yellow equipment purchase and offtake pre-funding agreements with […]
Ghana: Small-scale mining ban reaches six-month level
Ghanaian government imposed ban as part of efforts to end illegal mining and its negative impact on the environment Ghana’s Lands and Natural Resources Minister, Peter Amewu, imposed a freeze on the operations of small scale mining (also known as “galamsey”) in March 2017. Although this ban was originally intended to be imposed for only […]
Ghana: Hopeful month, Shaky season
Resolution of border dispute with Ivory Coast is a boost for Ghana. Image courtesy of TULLOW OIL PLC The good news is that Tullow Oil will resume drilling in Ghana after the resolution of the border dispute with Ivory Coast that has halted expansion of an important new field for two years. An international tribunal […]
Klapton joins the Organisation of Eastern & Southern Africa Insurers (OESAI)
Rob Bygrave, the CFO of Klapton, announced that Klapton had been accepted as a member of the OESAI. He further said that this was an important step to promoting the name of Klapton across the region and that Klapton has already benefitted from attending the recent 40th annual conference held by the OESAI in South […]
Protecting Investments In African Real Estate Projects
Klapton’s appetite high based on African average economic growth of over 5%. On August 3, 2017, Sanjiv Mihdidin, Managing Director at SMART PROPERTY, published an article “IS REAL ESTATE THE NEXT BIG THING FOR AFRICAN INVESTMENTS?”. In the article, Sanjiv Mihdidin describes the change in view, expressed in the Economist: where in 2000 the Economist […]
2016 financial statements published
Klapton Insurance Company Limited concluded the regulatory audit of its 2016 financial statements by the OFA (Anjouan Offshore Finance Authority) after the final approval by Klapton’s board of directors. Rob Bygrave, the CFO of Klapton, commented that the 2016 results for Klapton show another profitable underwriting result for the year. Klapton continues to maintain a […]
Tanzania Mining Tax Bills: A game changer for mining companies
Tanzania Mining Tax Bills: A change in the risk mining industry is presenting to the credit insurers? The Tanzanian government issued a tax bill, fines and interest to Acacia Mining, a Barrick Gold subsidiary, of approximately US$190 billion. This latest development is a game changer in a dispute that pits mining companies against president John […]