Activa Finances

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The project consists of an equity investment in Activa Finances (“Activa” or the “Company”), a holding company domiciled in Mauritius which controls the group’s operating subsidiaries, directly or through a majority stake in the group’s largest asset, its non-life subsidiary in Cameroon, Activa Assurances. Activa is registered as a Category 1 Global Business Company in the Offshore Financial center of Mauritius. Activa Assurances was formed in 1998 and in turn owns majority stakes in Activa Vie (life insurance, Cameroon), Activa International Ghana Limited (non life insurance, Ghana), a minority stake in Globus Re a captive reinsurance company which reinsures a portion of the risks underwritten by Globus members and a 5% stake in La Loyale Assurances from Côte d’Ivoire. Activa has built a strong domestic base in Cameroon and Ghana and will continue to focus on becoming a leading insurer in the CIMA zone (Conférence Interafricaine des Marchés d’Assurance) covering 15 insurance markets with harmonized regulation. The Company intends to establish a foothold in other markets in Western and Central Africa through acquisitions or new licenses, as was done in Liberia and Sierra Leone with the acquisition of a composite insurance license in the former and a new license in the latter country. This regional expansion should be facilitated by the Globus network of independent insurance companies founded by the Chairman of Activa. The Globus network leverages its reach which spans across more than 30 countries on the African Continent to further the growth of its members. The project aims to support the above expansion strategy by providing capital, an institutional stamp of approval and contributing IFC’s knowledge of global trends and best practices in the insurance industry.