The African Development Bank acquires a stake in CICA-RE

The African Development Bank (ADB) has acquired a 5.47% stake in the capital of CICA-RE. The transaction was set at 6.558 billion FCFA (10.69 million USD).

The investment agreement between both institutions was signed on 9 June 2022 in Abidjan, Côte d'Ivoire.

The transaction will reinforce the financial strength of CICA-RE, increase its underwriting capacity, contribute to the financing of its expansion in Africa and strengthen its governance and risk management framework.