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Central African Republic: BGFIBank signs an agreement with the Commercial Bank

25/08/2021
Categories: Companies

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BGFIBank brings its expertise to Commercial Bank Centrafrique (CBCA). This agreement materializes the participation of savings and credit institutions under the jurisdiction of the Central African Banking Commission (COBAC) for the financing of the Central African economy.

The BGFIBank group, the first bank in the sub-region with a turnover of more than 3,000 billion FCFA in 2020 (5.3 billion dollars) has just entered into a strategic partnership with the Commercial Bank Centrafrique (CBCA). The new agreement initialed last week in Bangui by the two banking institutions consists in particular in strengthening the operational capacity of the Commercial Bank Centrafrique whose objective is "to become the first bank which will support all companies and economic operators within the framework of the financing for the economic development of the Central African Republic", indicated its leaders. According to sources, the partnership sealed by the two savings and credit establishments could materialize in the coming months by increasing the share capital of the CBCA, which is currently 10 billion FCFA (17.8 million dollars) of which 71% of the shares are held by the Central African State.

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