AXIAN Investment in West African insurance deal
AXIAN Investment in West African insurance deal
AXIAN Investment has acquired a stake in WiASSUR, an insurance start-up based in Côte d'Ivoire.
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The pan-African AXIAN Group – through its subsidiary AXIAN Investment – has announced the acquisition of a stake in WiASSUR, an insurance start-up based in Côte d'Ivoire.
This acquisition, closed mid-July 2024, positions AXIAN as WiASSUR's second-largest shareholder. The group will henceforth have a governance role in the company to actively contribute to its development.
WiASSUR, an insurance broker based in Côte d'Ivoire, is striving to transform the sector by offering a completely digitised customer experience and optimised solutions to meet the insurance needs of citizens.
"AXIAN Investment enables us to invest strategically in companies to create value while supporting economic development in Africa. This equity investment in WiASSUR demonstrates our continued support for innovative initiatives in response to major challenges across the continent, while strengthening our presence in the insurance sector. We have great ambitions in this fast-growing sector,” said Hassane Muhieddine, CEO of AXIAN Financial Services.
Teva Fontaine, CEO of WIASSUR added: "WiASSUR shares AXIAN Group’s vision, which places positive impact at the heart of its DNA. We firmly believe that development and well-being is achieveable through risk pooling, a key mechanism that insurance perfectly embodies. By promoting accessible and tailored insurance solutions, we aim to contribute to a more stable and secure future for individuals and businesses, thereby enabling sustainable and inclusive growth.”
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