Deals - Apr 10, 2025

Asafo & Co. is proud to announce its role as legal advisor to Mayelia Participations in its acquisition of Société Ivoirienne de Contrôle Techniques Automobiles et Industriels (SICTA), a landmark deal that marks a turning point in Côte d’Ivoire’s automotive infrastructure and regulatory landscape.

Finalized in Geneva on April 2, 2025, the transaction involved the purchase of a 95% stake from Swiss group SGS SA and a 5% stake from Mr. Georges N’Dia, covering only SICTA’s share capital.

Valued at several billion CFA francs, this acquisition positions Mayelia Participations—led by CEO David Fofana—as the new leader in Côte d’Ivoire’s vehicle technical inspection sector. Just five years since its founding, Mayelia is now poised to modernize and expand technical inspection services across West Africa, with the goal of establishing a leadership position in at least five countries over the next three years.

The deal was supported by a consortium of financial institutions, including Banque d’Abidjan, BGFI Bank Côte d’Ivoire, Orange Bank, and AFG CI. The ASAFO & CO. team led by Julien Baubigeat, partner, and associate Inès Abdesselem, worked alongside EY to provide Mayelia Participations strategic and legal guidance.