The Togolese State sells part of its shares in the share capital of the Togolese Bank for Commerce and Industry (BTCI) to the Togolese company IB Holding. The announcement was made at the end of the Council of Ministers last Wednesday.

The Council of Ministers met this Wednesday, August 11, 2021 under the chairmanship of His Excellency Faure Essozimna Gnassingbé, President of the Republic. The draft decree setting the terms and price of the transfer of this State share was adopted on the occasion. IB Holding was “chosen out of the 5 bidders at the end of the call for tenders opened for this purpose”. Nearly a hundred investors had expressed their interest in the privatization of BTCI, the government said, without revealing the percentage of its share transferred to the said company. But the State "retains 10% of the capital and will ensure the preservation of the interests of employees as well as the consolidation of the financial system", added the press release from the Council of Ministers. Recall that the finalization of the BTCI privatization process was normally scheduled for the first quarter of 2020.