SUNU Assurances Vie Cameroun acquires stake in Advans Cameroun

SUNU Assurances Vie Cameroun has acquired a 24.88% stake in the microfinance company Advans Cameroun.

The transaction, the financial details of which remain undisclosed, has been approved by the Central African Banking Commission (COBAC).

Advans SA SICAR, the holding company of the pan-African Advans Group, remains the majority shareholder of the Cameroonian subsidiary.

This acquisition is the continuation of a strategic partnership signed in December 2021 between the two companies. Under the terms of the agreement, SUNU Assurances Vie Côte acquired a 10% stake in Advans Côte d'Ivoire. The partnership has enabled the development of funeral and hospitalization products for Advans' Ivorian customers.

The SUNU and Advans groups are currently exploring potential collaboration in the Democratic Republic of Congo (DRC).