AfricaInvest enters Burkina Faso’s non-life insurance market
Wednesday, 13 October 2021 16:09
A week after it acquired a minority stake in Nigeria’s non-life insurer Royal Exchange General Insurance, AfricInvest announced a new investment. This time, the beneficiary is Raynal Assurances IARD, Burkina Faso’s third-largest non-life insurer with over 13% of the market share.
The operation is made through the investor’s FIVE vehicles dedicated to African financial institutions, for an undisclosed amount. AfricInvest acquired the shares held by SUNU insurance group, which co-founded Raynal Assurances IARD with Burkinabe businessmen in 2005. Omar Bekkali, a partner at AfricInvest, said AfricInvest is committed to "consolidating Raynal's position in the Burkinabe insurance market and to actively support its development strategy.”
The insurance sector in Burkina Faso has 17 companies, including 8 in the non-life branch. According to provisional data for 2020, non-life insurance premiums increased by 14% compared to 2019 to reach CFA61.9 billion. The provisional turnover of the country's insurance companies is estimated at CFA108 billion in 2020, up 15%.
Chamberline Moko
Live News
-
Africa's fiscal tightrope: IMF's Era Dabla-Norris on debt markets, tax reform and the limits of discipline
15:17
-
The Other Iran War Crunch: A Global Sulfuric Acid Shortage the DRC Can Only Partly Cushion, for Now
14:08
-
Côte d’Ivoire Taps Extractive Revenues to Fund New Sovereign Wealth Vehicle
13:53
-
Taxing Mobile Money: A Costly Mistake Africa Keeps Repeating
13:48
-
Cameroon Issues Financial and Environmental Conditions for Suspended Gold Mining Operations to Resume
13:21
-
Togo Steps Up Efforts to Implement Nagoya Protocol on Genetic Resources
13:02
-
Togo Launches Second Polio Vaccination Round After 95% First-Phase Coverage
12:37
-
Visa launches sixth cohort of its Africa fintech accelerator
11:34
-
Koa Academy Unveils Five-Week Entrepreneurship Challenge for Young South Africans
10:13
-
Rabat to host Morocco Gaming Expo in May 2026
10:09
Driven by above-average growth and rapidly expanding demographics, Francophone Africa is emerging as...
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
Coca-Cola unit trains 260+ SMEs in Namibia business skills Program targets women, youth, disabled...
Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...
The April 2026 Fiscal Monitor reveals that the global fiscal gap has nearly closed, yet Africa's picture remains deeply uneven. Several African countries...
While attention is focused on the closure of the Strait of Hormuz and its impact on oil markets, another, less visible crisis is unfolding behind the...
New sovereign fund will channel mining and oil revenues into development Three sub-funds target infrastructure, stability, and long-term...
Program aims to reintegrate 200,000 excluded youth over five years Mobile school model targets rural and underserved populations Initiative addresses...
Fally Ipupa plans a two-part album project combining urban sounds and traditional rumba. The first album “XX” releases on April 17, while “XX Delirium”...
MASA 2026 gathers artists and industry professionals from over 28 countries in Abidjan. The event features 99 performances across market and...