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Mar 2012 IFC, member of World Bank Group and of IFC ALAC Fund, is planning to invest 90 million EUR (117.6 million USD) in Saham Finances, holding company of CNIA SAADA, a major player in the Moroccan insurance business. Saham Finances has announced that this contribution will help strengthen investments in sub-Saharan Africa where it purchased the group Colina, well-established in this part of the world.