The acquisition, finalised in mid-July 2024, makes AXIAN the second-largest shareholder in WiASSUR and grants it a governance role to actively contribute to the company’s growth.

WiASSUR, known for its innovative digital insurance solutions, is transforming the insurance landscape in Côte d’Ivoire by offering a fully digitised customer experience. The company’s goal is to provide accessible and optimised insurance products tailored to the needs of local citizens, furthering financial inclusion across Africa.

The move aligns with AXIAN Investment’s strategy of investing in technology-driven businesses that support the Group’s broader vision of economic development on the continent. The investment in WiASSUR is seen as the first step in AXIAN’s ambitious roadmap for the African insurance market, which is poised for significant growth in the coming years.

“AXIAN Investment enables us to strategically invest in companies that create value and drive economic development in Africa,” said Hassane Muhieddine, CEO of AXIAN Financial Services. “Our investment in WiASSUR underscores our commitment to innovative solutions addressing major challenges across the continent, while strengthening our foothold in the fast-growing insurance sector.”

WiASSUR’s CEO, Teva Fontaine, echoed the sentiment, emphasising the shared vision between the two companies. “WiASSUR is dedicated to promoting accessible and tailored insurance solutions that contribute to a more stable and secure future for individuals and businesses.”

He added “Our partnership with AXIAN will help accelerate our mission to drive sustainable and inclusive growth through risk pooling.”