Metropolitan upbeat about merger with Momentum

An agreement reached in March to merge the two insurers will be implemented by FirstRand selling its entire issued ordinary share capital of Momentum to Metropolitan in consideration for which Metropolitan will issue new Metropolitan ordinary shares to FirstRand.

In a statement released yesterday, Metropolitan Botswana Spokesperson Diphuka Osman said the merger would create one of the leading financial services groups on the African continent of which Metropolitan Botswana would be a part.