Axa Partners reviews its African positions

The premises of Axa Assurance in Morocco

Axa Partners has announced that it has sold 80% of its stake in Axa Assistance Maroc, which manages all of the group’s local assistance activities in Africa. Axa Assurance Maroc will retain the remaining 20% ​​of the shares in the assistance company.

Axa Partners is reviewing its Moroccan and more broadly African positions by selling 80% of its shares in Axa Assistance Maroc to Expanso, the investment holding company of Mehdi Tazi, former manager of Saham Finance Maroc and shareholder of the broker Marsh in the Kingdom. “The agreement also provides that Axa Assistance Morocco will take over from Axa Partners all local assistance activities in African countries, excluding Algeria”can we read in a press release.

If the amount of the transaction has not been communicated, Axa Assurance Maroc will retain the remaining 20% ​​of the shares in Axa Assistance Maroc which “will benefit from the renewed potential of the activity under the leadership of Mehdi Tazi to rethink its customer journey, deploy its services and further develop its French-speaking Africa hub from Morocco” then specifies the press release.

This operation to refocus the geographical footprint of Axa Partners is still subject to obtaining Moroccan regulatory authorizations. However, it should be finalized in 2022.

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