Founded in 2006 by the Ivorian businessman KONE DOSSONGUI, Atlantic Financial Group (AFG) is the financial holding company (bank and insurance) of Atlantic Group, which in addition to these sectors of activity is also invested in agriculture (rubber plantations, oil palm, citrus etc..), agro-industry (cocoa processing), industry (cement and flour mill), hotels, as well as telecommunications.
After selling the majority of its shares of its West African banking subsidiaries to the Moroccan Group BCP in 2012, AFG retained control of banque atlantique Cameroun. In 2019, the Group has applied for the acquisition of BNP Paribas subsidiaries in several countries and is now the majority shareholder of the Banque Internationale pour le Commerce et l'Industrie du Mali (BICIM) with 85%, Banque Internationale pour le Commerce et l'Industrie du Gabon (BICIG) with 52% and Banque pour l'Industrie et le Commerce des Comores (BIC Comores) with 51%.
The Group also owns four Insurance subsidiaries, which are :
- Atlantique Assurance Vie du Bénin (AABN-Vie)
- Atlantique Assurance du Bénin IARDT (AABN-IARDT)
- Atlantique Assurance du Cameroun – IARDT (AACM-IARDT)
- Atlantique Assurance du Mali IARDT (AAML- IARDT)
Atlantique Assurance Cameroun is today the center for excellence for digital micro insurance within the Group where a product, AssurTous Santé, has been developed in partnership with Orange Cameroon to enable underprivileged groups to insure themselves, at low cost, against the occurrence of tropical diseases.
The group has also just opened an insurance company in the Comoros and, in the wake of bank openings and acquisitions, will open insurance subsidiaries in Madagascar and Gabon.
Aware that one of the major challenges for the African continent is the processing of its raw materials, the Atlantic Group has embarked on the processing of cocoa in two (2) key countries that are major actors in the production of cocoa Ivory Coast (40% of global cocoa production volume) and Cameroon (5% of global cocoa production volume).
The Group also owns a technology subsidiary in Cameroon called DBS (Digital Business Solution) to support the digitalization of banking and insurance services and contribute effectively to financial inclusion in all markets where it is present.
Atlantic Group owns a cement plant in Côte d'Ivoire and is studying the possibility of opening another with the same capacity in Cameroon. Works for the installation of a flour mill in Benin is also currently underway.