CIC Insurance Group Plc has sold part of its land holdings in a move aimed at strengthening its financial position and improving cash flow.
In a notice dated February 11, 2026, the company said it has “successfully closed on the sale of a 50 acres block neighbouring Tatu city and 100 acres in Kajiado.” The sales are part of what the firm described as a “Balance Sheet Optimisation” plan.
CIC said it has for years built “a good portfolio of investments in land and real estate,” including “prime 200 acres neighbouring Tatu city and 495 acres in Kajiado.” The latest sale now converts part of that land into cash.
According to the notice, “The two transactions will inject Kshs.1.8 billion to the balance sheet of CIC Insurance Group Plc further strengthening the liquidity and overall performance of the Group.”
The move signals a shift from holding land as a long-term investment to freeing up funds that can support core insurance operations. By improving liquidity, the company is better placed to meet obligations, invest in new opportunities, and stabilize performance in a competitive insurance market.
The notice was signed by Group Managing Director and CEO Patrick Nyaga, who confirmed the completion of the transactions.
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