Grace Ashiru
The pan-African AXIAN Group, through its subsidiary AXIAN Investment, has taken a significant step in supporting African start-ups by acquiring a stake in WiASSUR, an innovative insurance start-up based in Côte d’Ivoire. This acquisition, finalized in mid-July 2024, is a key milestone in AXIAN Group’s growth strategy within the insurance sector.
With this deal, AXIAN becomes the second-largest shareholder in WiASSUR and will take on a governance role, actively contributing to the company’s future development. WiASSUR, a Côte d’Ivoire-based insurance broker, is transforming the industry by delivering a fully digital customer experience and offering tailored solutions to meet the evolving insurance needs of its clients.
This acquisition aligns with AXIAN Investment’s strategy of investing in technologies that reflect the Group’s vision and commitment. In the case of WIASSUR, it specifically aims to accelerate digitalisation and promote financial inclusion across Africa. The investment represents the first step in AXIAN’s ambitious plan for the insurance sector, recognizing the continent’s high-growth potential.
“AXIAN Investment allows us to make strategic investments in companies, creating value while supporting Africa’s economic development. Our equity investment in WIASSUR underscores our ongoing commitment to innovative solutions addressing major challenges on the continent, while also expanding our presence in the insurance sector. We have significant ambitions for this rapidly growing industry,” says Hassane Muhieddine, CEO of AXIAN Financial Services.
Teva Fontaine, CEO of WIASSUR, states, “WIASSUR aligns with AXIAN Group’s vision, which prioritizes positive impact as a core value. We strongly believe that development and well-being can be achieved through risk pooling, a concept insurance exemplifies. By advocating for accessible and customized insurance solutions, our goal is to help build a more secure and stable future for both individuals and businesses, fostering sustainable and inclusive growth in the process.”
