Bank of Africa Group S.A.

Equity : March 2011

BIO has invested € 2 M in equity in Bank of Africa Group, a holding company of commercial banks in Sub-Saharan Africa.

Amount

€ 1,954,160.00

Type of investment

Equity

Development impacts

Local economic growth

Beneficiary locations

Africa: Benin, Burkina Faso, Côte d'Ivoire, Democratic Republic of Congo, Ghana, Kenya, Madagascar, Mali, Niger, Rwanda, Senegal, Tanzania, Togo, Uganda

Investment field

Financial Institutions

Activity

Commercial Bank

Organisation

Bank of Africa Group S.A.

Website

https://www.bank-of-africa.net/

Domicile

Luxembourg

BOA is a universal commercial bank serving different clientele types ranging from individuals to small and large companies. It offers a broad set of financial products, either under the form of loans, deposits or other value added services. Its network is composed of 15 banks in 14 Sub Saharan African countries. Since 2008, the bank benefits from the financial and operational support of BMCE Group, a leading Moroccan listed financial group.

Thanks to its broad geographical footprint, the bank benefits from a significant size and a good level of diversification compared to its African peers. All the banks are operating under the Bank of Africa brand name (except in Burundi). The banks have a good level of autonomy, allowing to adapt to the local context while benefiting from the financial, commercial and operational synergies of a group.

The SME segment remains a key component of the Group’ positioning, representing a significant portion of loan portfolio in most of group’s subsidiaries.

Development impacts

Local economic growth
Credit support to MSMEs: Bank of Africa has adopted a strategy of universal commercial bank serving all types of clients (retail, SME, corporate, state bodies ,etc.), collecting deposits, granting loans and offering various services. The SME segment a significant part of loan portfolios in most of the group’s subsidiaries.

Mobilization of local savings: Client deposits the wide majority of external funding.