Afriland First Bank buys CEA-Vie

Afriland First Bank (Cameroon) might have bought 90% of the capital of the Compagnie euro-africaine d'assurance vie (CEA-Vie), according to information relayed by the Ecofin agency. The details of the transaction, whose negotiation was initiated a long time ago, have not been unveiled.

Through this operation, the Cameroonian group could stand CEA-Vie against Access Bank, of which it already owns 97%, to develop its bancassurance business in the country.

Thus, this scheme is likely to reproduce the Cameroonian bancassurance model where Afriland First Bank already operates with SAAR Vie, another company related to the group.