Mayelia to Acquire Leading Ivorian Auto Inspection Company
TLDR
- Mayelia Automotive is in advanced talks to acquire Société Ivoirienne de Contrôle Techniques Automobiles et Industriels (SICTA)
- The deal is aimed at modernizing infrastructure and strengthening regulatory compliance in Côte d’Ivoire's automotive sector
- The acquisition involves funding from the National Social Security Fund (CNPS) and AFG Group, with support from firms like EY and ASAFO&CO
Mayelia Automotive, led by CEO David Fofana, is in advanced talks to acquire Société Ivoirienne de Contrôle Techniques Automobiles et Industriels (SICTA), a subsidiary of the Swiss group SGS, in a deal aimed at modernizing infrastructure and strengthening regulatory compliance in Côte d’Ivoire's automotive sector.
This transaction, valued at several billion CFA francs, will allow Mayelia, a rising player with just five years in the market, to become the leader in the Ivorian automobile technical inspection industry. Observers believe the acquisition will contribute to economic growth, job creation, and road safety improvements in the country.
The acquisition involves funding from the National Social Security Fund (CNPS) and AFG Group, with support from firms like EY and ASAFO&CO for the takeover process. The deal excludes state-owned assets previously under SICTA’s concession agreement.
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Key Takeaways
The transaction aligns with Mayelia’s strategic ambition to expand across African markets. Already operating in Côte d’Ivoire, Guinea, and planning entries into Senegal and Benin, the company aims to drive sustainable innovation and modernization in the sector. In a 2024 interview, David Fofana outlined his strategy to challenge the longstanding monopoly in Côte d’Ivoire’s technical inspection market. With recent regulations mandating vehicle inspections before car insurance issuance, the acquisition positions Mayelia to meet growing market demand effectively. Fofana emphasized the importance of modernization, stating that the move supports Mayelia’s vision of becoming a key partner in the transport sector across Africa. The acquisition follows Mayelia’s recognition in the 2024 National Excellence Awards for its contribution to the industry.
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