Jean Kacou Diagou Takes Majority Stake In Nsia Participations

Jean Kacou Diagou boosts control of NSIA Participations to 68.73 via Manzima Holding, tightening family grip on the pan-African financial group.

The National Bank of Canada exits NSIA after selling its 22.6 stake to Diagous vehicle, following Amethis earlier divestment.

NSIA, active in 12 African countries, continues expansion under Diagous leadership, with Swiss Re remaining a key undisclosed shareholder.

Ivorian banker Jean Kacou Diagou has tightened his hold on NSIA Participations SA Holding, the company at the heart of the NSIA Group. Diagou, through his familys investment vehicle, Manzima Holding SA, has increased his stake in the holding company from 46.67 percent to 68.73 percent, solidifying his influence in Africas financial services space.

The increase follows Manzima Holdings acquisition of a 22.6 percent stake previously held by the National Bank of Canada, which has now fully exited the group. Though the value of the transaction was not disclosed, the deal marks another step in a broader consolidation effort that began last year.

Back in March 2024, Manzima Holding also bought the 6 percent stake held by private equity firm Amethis. For Diagou, these moves are part of a steady effort to regain majority control of the group he founded, anchoring that control through his family-owned vehicle.

The National Bank of Canada first became involved in NSIA Participations in 2015 when it partnered with Emerging Capital Partners to acquire a significant stake.

With the banks exit, Manzima Holding is now the largest shareholder in the group. Swiss Re, the Swiss reinsurer, remains on board, having invested 112 million in 2017 to join NSIAs capital. However, its current shareholding hasnt been disclosed.