IFC buys into SUNU's banks with up to $29m, with women-led firms in mind
The World Bank's private-sector arm is taking a stake in the holding company of the African insurer's banks in Senegal and Togo.
Lire cet article en français →
Luanda — The International Finance Corporation (IFC), the private-sector arm of the World Bank Group, has agreed to invest up to $29 million (about 17 billion CFA francs) in SUNU Investment Holding, the company that holds the SUNU Group's banks.
The deal was signed in Luanda on Wednesday on the sidelines of the Africa Financial Industry Summit. The size of the stake was not disclosed.
The money is meant to strengthen the holding's capital, support its banks and fund their growth. The partners set three aims: a stronger balance sheet, more lending to small and medium-sized businesses, especially those run by women, and better risk management through an IFC advisory programme.
An insurer growing into banking
SUNU was founded in 1998 by the Senegalese entrepreneur Papa Pathé Dione and now works in 17 sub-Saharan African countries, with 38 companies and more than 5,600 staff. It leads the life insurance market in the CIMA zone. Its banking holding, set up in 2018 and based in Côte d'Ivoire, owns SUNU Bank Sénégal and SUNU Bank Togo.
Mohamed-Lamine Bah, managing director of SUNU Group, said IFC's arrival showed strong confidence in the group's banking plans and would help its banks grow and serve businesses better.
Source: Financial Afrik, November 2026.
