Belife Insurance Enters Togo Market With Prudential Acquisition

Finance

Friday, 25 July 2025 13:22

Belife Insurance Enters Togo Market With Prudential Acquisition

(Togo First) - Belife Insurance, a new brand backed by the Brown family, has officially taken over operations from Prudential Beneficial in Togo's life insurance sector. This follows a full acquisition of assets from the Prudential Plc and Beneficial Group joint venture, finalized earlier this month.

The acquisition gives Belife Insurance control of Prudential’s Togolese subsidiary, which serves over 52,000 clients. It operates 11 branches, including eight in Lomé, and manages a network of more than 600 sales agents. This transition comes as Prudential Plc restructures its operations in Francophone Africa and refocuses on markets such as Anglophone Africa, including Uganda, Zambia, Nigeria, Ghana, and Kenya.

“This change is not a simple transition. It is the beginning of a new dynamic, driven by our passion for Africa, and by a clear vision: to become a leader in insurance in Africa, more agile and closer to its employees and customers,” Eddie Brown, chairman and CEO of Belife Insurance, said in a statement.

Belife, also present in Cameroon and Côte d’Ivoire, aims to build on over 50 years of experience. It promotes an inclusive, digital, and customer-centric approach. In Togo, its growth strategy focuses on mobile channels, accessible products, and broader national coverage.

In 2022, Prudential Beneficial Assurances, formed from the 2019 merger of Prudential and Beneficial Insurance, reported revenue of 5 billion CFA francs. It had an estimated market share of 14% in Togo. At the time, the company ranked fourth in the sector, behind GTA Assurances, Sunu, and NSIA.

Ayi Renaud Dossavi

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.