YEELEN FINANCIAL FUND (CAURIS MANAGEMENT GROUP) SELLS ITS STAKE IN AFG INSURANCE CAPITAL (AIC) (A SUBSIDIARY OF ATLANTIC GROUP)

Abidjan, Cote d’Ivoire, May 22, 2026: Yeelen Financial Fund, the fund dedicated to the financial sector in the WAEMU region, managed by Yeelen Capital, member of Cauris Management group — a leading West African private equity fund manager — is pleased to announce the sale of its stake in AFG Insurance Capital (AIC), a subsidiary of Atlantic Group chaired by Koné Dossongui.

In September 2019, Yeelen Financial Fund invested in the company through a minority equity stake, complemented by a mezzanine investment in December 2019, bringing the total investment amount to EUR 5.8 million (FCFA 3.8 billion). This investment supported the Group in strengthening the equity base of its subsidiaries. The exit was completed through the repurchase of the investment by the reference shareholder, Atlantic Group, and generated a cumulative return equivalent to 2.5x Yeelen Financial Fund’s initial investment.

AIC, member of the pan-African Atlantic Group, which purpose is to acquire equity stakes in insurance companies, has brought together insurance companies in West and Central Africa since 2017.

For Mr. Noël Yawo Eklo, Co-Founder and Chief Executive Officer of Cauris Management and Yeelen Capital: “Cauris Management Group’s involvement, through Yeelen Financial Fund, alongside its long-standing partner AFG, enabled the team united behind Chairman Koné Dossongui to roll out AFG’s proven regional development strategy in the insurance sector, while providing responses tailored to the specific challenges of each country.”

Mr. Benjamin Kouakou, Managing Partner at Cauris Management in charge of Yeelen Financial Fund, stated: “This investment contributed to the development of AIC’s various subsidiaries by supporting the rollout of both diversified and innovative insurance offerings. It also helped strengthen the growth momentum of the insurance sub-holding’s subsidiaries by enhancing their capacity to underwrite risk in their respective markets.”

Mr. Georges Wilson, Chairman of AIC’s Board of Directors, welcomed this collaboration with Yeelen Financial Fund in the following terms: “The partnership with Cauris Management through Yeelen Financial Fund was a decisive step in AIC’s structuring and growth. Beyond the financial contribution, we benefited from rigorous support and sound advice that strengthened the governance and development trajectory of our insurance companies in West and Central Africa. This fruitful collaboration illustrates the trust and shared vision between our two groups, and we are delighted to have successfully completed this transaction in the interest of all stakeholders.”

About Cauris Management Group / Yeelen Capital

Cauris Management is a private equity fund management company active in the SME segment in Francophone West Africa since 1995, with a total of three generalist funds and one specialized fund (banking and insurance).

Cauris Management Group created Yeelen Capital in 2017 to manage Yeelen Financial Fund, a EUR 50 million fund dedicated to the WAEMU financial sector, with five portfolio companies financed. Yeelen Capital is a consortium made up of Cauris Management, Mr. Paul Derreumaux (founder of Bank Of Africa Group), Mr. Amadou Raimi (former Chairman of Deloitte France and Vice Chairman of Deloitte World), and Finactu (a consulting firm specializing in finance and insurance in Africa).

Cauris Management / Yeelen Capital group’s team has completed 52 investments, including 14 in the financial sector, and 47 exits since inception. Cauris Management / Yeelen Capital group operates from Lomé and Abidjan.

For more information:

 Abidjan
📞 +225 27 22 22 32 95
✉️caurisabidjan@caurismanagement.com

🌐 www.caurismanagement.com