West Africa’s largest insurance company, Leadway Assurance, has revealed its intention to invest in Nigeria’s Lagos-based value airline, Green Africa, to help it increase its fleet size and scale up operations.
Speaking on this development, the founder of Green Africa, Babawande Afolabi, said: “We are delighted to have Leadway onboard this journey with us as an investor. This is significant considering the general track record of the aviation industry as a destination for local professional private capital in the country. We look forward to working with Leadway, not only to build Green Africa but also to positively change the industry narrative for every stakeholder.”
Commenting on the investment, the managing director, Leadway Assurance, Tunde Hassan-Odukale, said: “It has been refreshing to see Green Africa gradually stabilise and build a strong operational track record since entering service about six months ago. We look forward to supporting the new carrier as it enters the next phase in its journey of changing the air travel landscape in the region.”
Since its entry into service on August 12, 2021, Green Africa has connected over 150,000 customers across eight airports in Nigeria while delivering on its promise of offering the best air travel fares in the market. This has placed the new carrier among the top three in Nigeria within the short period of the commencement of operations.