IFC signs deal to invest up to $29m in SUNU banking holding

International Finance Corporation (IFC), a member of the World Bank Group, signed an agreement in Luanda on Wednesday, 4 November 2026, to acquire an equity stake in SUNU Investment Holding (SIH) through an investment of up to $29 million, or approximately CFAF17 billion. The transaction is intended to strengthen the capital base of the holding company responsible for pan-African SUNU Group’s banking operations.

Announced on the sidelines of the Africa Financial Industry Summit, the agreement is designed to provide SIH’s banking subsidiaries with more resources to develop their businesses. Both partners are placing particular emphasis on financing small and medium-sized enterprises, especially women-led businesses. The investment is also intended to support the group’s regional expansion plans.

Fresh capital for SUNU’s banking business

Established in 2018 and based in Côte d’Ivoire, SUNU Investment Holding owns SUNU Bank Senegal and SUNU Bank Togo. The proposed IFC investment is directed at this banking holding within a group best known for its insurance operations. The announcement sets an upper limit on the investment but does not specify the ownership stake IFC would receive in SIH.

The equity investment will be accompanied by an IFC advisory programme focused on risk management and corporate governance. The initiative is intended to support stronger banking operations as the partners seek to expand lending to smaller businesses.

Two banks in a pan-African financial network

Founded in 1998, SUNU Group operates in 17 sub-Saharan African countries. Its corporate profile lists 26 insurance companies and two banks. That regional footprint provides the backdrop for the transaction, although the capital investment targets the group’s banking arm.

For the wider group, SUNU reports revenue of more than CFAF365 billion in 2025 and CFAF1,011 billion in assets under management. These group-wide figures cover several financial businesses, including insurance, and provide context for SUNU’s development of its two West African banks.