> ## Content Index > Fetch the complete content index at: https://www.africainvestorreview.com/llms.txt > Use this file to discover other available public pages before exploring further. # Mediterrania Capital Partners Invests in AFG Assurances - URL: https://www.africainvestorreview.com/mediterrania-capital-partners-invests-in-afg-assurances/ - Published: 2026-11-04T12:17:00.000Z - Updated: 2026-11-04T20:18:51.000Z - Description: Private equity investor Mediterrania Capital Partners completes an investment in the insurance arm of Atlantic Group, founded by Ivorian entrepreneur Koné Dossongui, to scale its regional footprint and drive financial inclusion. - Author: Charles S. - Tags: Private Equity, West Africa, Central Africa, North Africa ABIDJAN — [Mediterrania Capital Partners](https://www.linkedin.com/company/mediterrania-capital-partners/home/?ref=africainvestorreview.com) (MCP) has completed an investment in AFG Assurances, the insurance arm of [Atlantic Group](https://www.linkedin.com/company/atlantic-group-sa/home/?ref=africainvestorreview.com), the pan-African group founded by Ivorian entrepreneur Koné Dossongui. The transaction will support the next phase of [AFG Assurances](https://www.linkedin.com/company/afg-assurances-cm/home/?ref=africainvestorreview.com)’ growth across Francophone Africa. Built over the past decade through acquisitions and the creation of new subsidiaries, AFG Assurances’ network today comprises seven life and non-life insurance companies across West Africa, Central Africa, and the Indian Ocean. It offers individuals and businesses a comprehensive range of products, including motor, third-party liability, property, industrial risks, health, and life, distributed through brokers, general agents, and direct offices. ## The Daily Brief We deliver daily breakdown of dealmaking, capital flows, and market insights across Africa. Subscribe Email sent! Check your inbox to complete your signup. 100% free. Unsubscribe anytime. ## Operational Footprint & Regional Market Dynamics AFG Assurances holds strong positions in its core markets, particularly in retail lines of motor, health, and personal accident: - **Regulatory Framework:** Its subsidiaries are regulated under the CIMA framework in their respective markets,combining local expertise with support functions shared at the Group level. - **Banking Synergies:** Affiliation with AFG Bank provides access to an established banking distribution network and significant bancassurance and cross-selling opportunities. - **Market Opportunity:** The CIMA zone covers 14 countries across West Africa, Central Africa, and the Indian Ocean with a combined population exceeding 200 million. Insurance penetration stands at approximately 1.5%—roughly half the sub-Saharan African average. Between 2018 and 2024, the market expanded by an average of 9% annually to reach approximately €2.9 billion in premiums, driven by urbanization, a growing middle class, and mobile money expansion. ## Expansion Roadmap & Inclusion Strategy The development plan aims to scale the network to fourteen companies through five new subsidiaries, targeted acquisitions, and capital increases: - **Network Growth:** Scaling existing subsidiaries while expanding bancassurance distribution and broadening access to formal insurance for individuals and businesses. - **Financial Inclusion:** Targeting markets where most households and small businesses lack coverage. Health and personal accident insurance is the largest business line, with the Group deploying bancassurance offerings, digital solutions, and micro-insurance to reach first-time policyholders, women, and small businesses. ## Executive Commentary > "Our investment in AFG Assurances reflects our strong conviction in the growth potential of insurance in Francophone Africa and in its role as a driver of resilience for households and businesses. With its established footprint, clear regional ambitions and access to AFG Bank’s distribution network, the group is well positioned to build a leading insurance platform. We look forward to supporting its expansion through organic growth, entry into new markets and targeted acquisitions, while broadening access to insurance for individuals and businesses across the region." > — [**Maty Ndiaye**](https://www.linkedin.com/in/maty-ndiaye-2a35981/?ref=africainvestorreview.com), Partner at Mediterrania Capital Partners > "Insurance is a powerful yet still underused lever for financial inclusion: it protects livelihoods, safeguards small businesses and allows families to plan for the future. Through this partnership, we will support AFG Assurances in growing its base of active policyholders, with a particular focus on first-time policyholders, women and small businesses. Alongside this growth, we will work with the group to strengthen its governance, its ESG and impact management systems, and its customer protection standards." > — [**Hatim Ben Ahmed**](https://www.linkedin.com/in/hatim-ben-ahmed-71b6524/?ref=africainvestorreview.com), Managing Partner at Mediterrania Capital Partners > "Mediterrania Capital Partners’ investment in AFG Assurances marks a milestone for our insurance business. We are welcoming a long-term strategic partner that shares our conviction that insurance is a pillar of financial inclusion and economic resilience in Africa. This partnership will enable us to accelerate the execution of our development plan, deepen our bancassurance model with AFG Bank and make simple, affordable formal protection available to a growing number of households and businesses in our markets. Our ambition is clear: to make AFG Assurances a leading insurer in Francophone Africa." > — [**Abissa Kouakou Anzoua**](https://www.linkedin.com/in/kouakou-anzoua-abissa-cfa-62a84b62/?ref=africainvestorreview.com), Chief Executive Officer of Atlantic Group ## Transaction Advisory - **Investor Advisory:** MCP was advised on the transaction by [Deloitte](https://www.linkedin.com/company/deloitte/home/?ref=africainvestorreview.com) (financial and tax), [Asafo & Co](https://www.linkedin.com/company/asafo-co/home/?ref=africainvestorreview.com) (legal), and [SLR](https://www.linkedin.com/company/slr-consulting/home/?ref=africainvestorreview.com) (ESG). - **Target Advisory:** [Atlantic Group](https://www.linkedin.com/company/atlantic-group-sa/home/?ref=africainvestorreview.com) was advised by [Ashurst Perkins Coie UK LLP](https://www.linkedin.com/company/ashurstperkinscoie/home/?ref=africainvestorreview.com) (legal). --- ### The Intelligence Engine for African Private Capital Access complete transaction breakdowns, fund strategy updates, and market commentary directly on our platform. 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