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Recapitalization project: BGFIBank positions itself for the takeover of Commercial bank Centrafrique

07/09/2021
Categories: Companies

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As part of the Commercial Bank Centrafrique (CBCA) recapitalization project, the BGFIBank group is getting organized for a strategic positioning. The leader of the banking sector operating in the Economic and Monetary Community of Central Africa (CEMAC) could become the reference shareholder.

Ongoing discussions between the Central African authorities and the BGFIBank group could lead to the purchase of 71% of shares in the Central African state. With a turnover of more than 3,000 billion FCFA in 2020, the group aims to become the reference shareholder of the CBCA. While waiting to conclude an agreement, the Central African Head of State Faustin Archange Touadéra received last August in Bangui a delegation from BGFIBank led by its Chairman and CEO Henri Claude Oyima where it was clearly indicated that the objective of the CBCA is to "become the first bank that will support all companies and economic operators in the context of financing for the economic development of the Central African Republic". Despite expected changes in the shareholding, sources familiar with the matter inform that the Central African State should keep a marginal share of 14% of the shares, the remaining 15% of shares going to private investors, in the occurrence, the historic shareholder of Commercial Bank Cameroon (CBC) owned by the Cameroonian group Victor Fotso. The takeover of CBCA would thus give new impetus to BGFIBank.

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