Magazine date:
Jun 2012 The insurance oversight commission (CIMA) is requiring Samiris and Alpha to recapitalize, otherwise they lose their license. Both companies are in serious trouble with Samiris in need of 1 billion FCFA (1 947 000 USD) for the consolidation of its capital. Worse for Alpha, which needs to come up with 3.5 billion FCFA (6 814 500 USD) required to regain solid grounds. The search for investors failed as all candidates require the resignation of management prior to any talks, which the leaders of both companies ruled out.