(AXIAN) - The pan-African AXIAN Group – through its subsidiary AXIAN Investment – a leading 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.”

ABOUT AXIAN INVESTMENT

AXIAN Investment is mandated to manage the AXIAN group’s investments in funds and directly in fledgling African technology startups. Through these two lines of expertise, AXIAN Investment will bring the group’s support both directly and indirectly to businesses at various stages of maturity. As of 2023, it had interests in 225 businesses across 68 countries, including 103 businesses across 34 countries in Africa. AXIAN Investment aims to be a first-rate pan-African investor.

ABOUT AXIAN GROUP

AXIAN is a pan-African group operating across 17 countries in 5 high-growth business sectors, namely: telecoms, financial services, energy, real estate and open innovation. AXIAN supports the socio-economic transformation of the countries in which it operates. With over 7500 bold and passionate employees, the Group consistently ensures that its activities have a lasting and positive impact on the day-to-day lives of millions of Africans. As a member of the United Nations Global Compact initiative, AXIAN Group is committed to integrating its 10 principles at the core of its current and future strategies and activities. For more information about Axian: www.axian-group.com

ABOUT WIASSUR
WiASSUR is revolutionizing the insurance sector by leveraging technology to simplify and enhance access to insurance products for individuals and businesses. Through an innovative digital platform, we make insurance more flexible, faster, and personalized, while facilitating risk and contract management. With a focus on efficiency and transparency, we enable our clients to better understand and benefit from their coverage in an ever-changing environment. For more information: wiassur.com