AXIAN completes acquisition of a stake in WiASSUR, strengthening its African insurance footprint
The pan-African AXIAN Group – through its subsidiary AXIAN Investment – a supporter of African start-ups, has announced the acquisition of a stake in WiASSUR, an innovative insurance start-up based in Côte d'Ivoire. This marks a key milestone for AXIAN Group's expansion strategy in this sector.
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.
This acquisition reflects AXIAN Investment's strategy of investing in technologies aligned with the Group's vision and commitment and, particularly in the case of WIASSUR, aims to accelerate digitalisation and financial inclusion across Africa. This investment marks the first step of AXIAN's ambitious roadmap in the insurance sector across the continent, considering its high-growth potential.
"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." says Hassane Muhieddine, CEO of AXIAN Financial Services.
Teva Fontaine, CEO of WIASSUR adds "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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