YEELEN FINANCIAL FUND (CAURIS MANAGEMENT GROUP) SELLS ITS STAKE IN AFG INSURANCE CAPITAL (AIC), A SUBSIDIARY OF ATLANTIC GROUP
Abidjan, Côte d’Ivoire, 22 May 2026: Yeelen Financial Fund, the fund dedicated to the financial sector of the WAEMU area, managed by Yeelen Capital, a member of the Cauris Management group, a benchmark 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 had taken a minority stake in the company, completed by a quasi-equity investment in December 2019, bringing the total investment to EUR 5.8 million (FCFA 3.8 billion). This investment supported the Group in strengthening the equity of its subsidiaries. The exit took the form of a buy-back of the investment by the reference shareholder, Atlantic Group, and generated a cumulative return equivalent to 2.5 times the initial investment by Yeelen Financial Fund.
AIC, a member of the pan-African Atlantic Group, whose purpose is to take stakes in the capital of insurance companies, has brought together since 2017 insurance companies in West Africa and Central Africa.
For Mr Noël Yawo Eklo, Co-Founder and Chief Executive Officer of Cauris Management and of Yeelen Capital: « The involvement of the Cauris Management group, through Yeelen Financial Fund, alongside its long-standing partner AFG, allowed the team gathered around Chairman Koné Dossongui to roll out AFG’s proven regional development strategy in insurance, while providing answers suited to the specific issues of each country ».
Mr Benjamin Kouakou, Managing Partner at Cauris Management in charge of Yeelen Financial Fund, said: « This investment contributed to the development of AIC’s various subsidiaries, by supporting the roll-out of insurance offers that are both diversified and innovative. It also strengthened the growth momentum of the subsidiaries of the insurance sub-holding, by allowing greater risk-taking capacity in their respective markets ».
Mr Georges Wilson, Chairman of the Board of AIC, welcomes this collaboration with Yeelen Financial Fund in these terms: « The partnership with Cauris Management through Yeelen Financial Fund was a decisive stage in the structuring and growth of AIC. Beyond the financial contribution, we benefited from rigorous support and sound advice that strengthened the governance and the development path of our insurance companies in West Africa and Central Africa. This fruitful collaboration illustrates the trust and the shared vision between our two groups, and we are pleased to have brought this transaction to completion in the interest of all stakeholders ».
About the Cauris Management / Yeelen Capital group
Cauris Management is a private equity fund management company, active in the SME segment in French-speaking West Africa since 1995, with three generalist funds and one specialist fund (banks and insurance) in total.
The Cauris Management Group launched Yeelen Capital in 2017 to manage Yeelen Financial Fund, of EUR 50 million, dedicated to the financial sector of the WAEMU, with five holdings financed. Yeelen Capital is a consortium made up of Cauris Management, Mr Paul Derreumaux (founder of the Bank Of Africa Group), Mr Amadou Raimi (former Chairman of Deloitte France and Vice-Chairman of Deloitte Worldwide) and Finactu (a consultancy specialising in finance and insurance in Africa).
The team of the Cauris Management / Yeelen Capital group has made 52 investments, including 14 in the financial sector, and 47 exits since inception. The Cauris Management / Yeelen Capital group operates from Lomé and Abidjan.
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