Wafa Assurance sets foot on the Ivorian market

Wafa Assurance has just acquired a 75% stake in the capital of the Ivorian company Solidarité Africaine d’Assurance (SAFA Assurances). Concluded on September 18, 2012, this agreement will enable Wafa Assurance to set foot in Côte d’Ivoire, the main market in the CIMA zone. Established in 1995, SAFA Assurances is a non-life company which posted a turnover worth 1.8 billion FCFA (3.6 million USD) in 2011. Wafa Assurance intends to develop SAFA’s activities thanks to its partner, the Société Ivoirienne de Banque (SIB), a subsidiary of Attijariwafa bank in Côte d’Ivoire.