Industry: Financial Services
Location: Zambia, Tanzania
Investment Year: 2015
Madison Financials Services PLC is leading insurance-based financial services group in Zambia. Founded in 1992 as the first private insurance company in Zambia, MFS PLC operates general and life insurance businesses along with asset management and microfinance activities in Zambia as well as a general insurance business in Tanzania.
Industry: Financial Institutions
Location: Abidjan, Côte d’Ivoire
Investment Year: 2017
Deal Type: Equity Investment
Ecobank Côte d’Ivoire (“ECI”) is the third largest subsidiary of Ecobank Transnational Incorporated (“ETI”), a leading pan-African banking group with a presence in 36 countries and 11 million clients across the continent. In terms of total assets, ECI is the second largest bank in Côte d’Ivoire, the most competitive and dynamic banking market in West Africa with over 25 banks and accounting for around 30% of total banking assets in the West Africa Monetary Union. Headquartered in Abidjan, ECI employs 648 employees, operates 53 branches across the country (one of the largest networks in CI) and manages over 274,018 accounts. ECI provides a full range of corporate, retail and investment banking and has recently focused its strategy on the digitalization of its products and services.