Biography Of Dominique Galea (Age , Wife , Net Worth) - A multimillionaire businessman from Mauritius “Dominique Galea” , has had his net worth drop by more than $2.4 million in the last 171 days due to a drop in the market value of his interest in Mauritius-based regional insurer MUA Limited.
Galea, as chairman of MUA Limited, holds 6.33 percent of the Mauritian insurer. In the last 171 days, the market value of his stake has dropped by MUR112 million ($2.48 million), as shares in the regional insurance have fallen by more than 21% after a protracted sell-off by investors.
Shares in the Mauritian insurer have fallen from MUR164.75 ($3.66) on January 24, 171 days ago, to MUR130 ($2.89) at the time of writing this article, resulting in a 21.1-percentage loss for shareholders over the last 171 days.
The market value of Galea’s holding has decreased from MUR531 million ($11.8 million) on January 24 to MUR419 million ($9.3 million) at the opening of the local exchange this morning, Thursday, July 14.
Despite a recent fall in the market value of his ownership, Galea remains one of the wealthiest investors on the Mauritius Stock Exchange.
MUA Limited, the Mauritius Stock Exchange’s largest listed insurance firm, operates as a holding company with active activities in Mauritius, Kenya, Uganda, Rwanda, Tanzania, and the Seychelles.
MUA has evolved into a regional insurance sector leader as a consequence of its regional development techniques and strategic reorganization, which resulted in the consolidation of its activities across Africa via subsidiaries in Mauritius, Kenya, Uganda, Rwanda, Tanzania, and the Seychelles.
The Mauritian insurer announced almost five weeks ago that it will get a $10 million equity investment from Proparco, Group Agence Francaise de Developpement’s private finance arm.
Proparco will use its wide cross-sector network and strong regional experience to produce shared prosperity for all stakeholders, allowing MUA to increase its financial capacity and promote sustainability efforts in accordance with its three-year strategic transition plan.
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