Asafo & Co. has advised Mediterrania Capital Partners (MCP), a leading private equity firm investing in growth companies across Africa, on its investment in AFG Assurances, the insurance arm of Atlantic Group, the pan-African group founded by Ivorian entrepreneur Koné Dossongui.
Built over the past decade through acquisitions and the establishment of new subsidiaries, AFG Assurances comprises several life and non-life insurance companies across West Africa, Central Africa and the Indian Ocean, all regulated under the CIMA framework.
MCP’s investment will support AFG Assurances’ expansion plan through new subsidiaries, targeted acquisitions and capital increases in existing subsidiaries, alongside the strengthening of bancassurance distribution through AFG Bank.
The Asafo & Co. team advising MCP was led by partner Patrick Larrivé, who was assisted by senior associates Othmane Mestari and Kamil Zizi with support from associates Guy-Fabrice Holo, Assia Khalidi, Shagufta Ashfaq and Baptiste Persouyre.