Togo now only has 10% of the capital of the Banque Togolaise pour le Commerce et l'Industrie (BTCI). The State sold part of its shares in the share capital of BTCI to the IB Holding company of a Burkinabe billionaire who made his fortune in construction with his company EBOMAF.

At the end of the Council of Ministers last Wednesday, the Togolese government announced that it had adopted the draft decree setting the terms and price of the sale of part of the State shares in the share capital of BTCI. According to the government, this privatization should favor the contribution of the banking system to the financing of the national economy. He promises to ensure the preservation of the interests of employees as well as the consolidation of the financial system. IB Holding was “chosen out of the 5 bidders at the end of the call for tenders opened for this purpose”. It was preferred over nearly a hundred investors who had expressed interest in the privatization of BTCI.