Oragroup S.A.
BIO invested € 5 M in equity to Oragroup, which manages commercial banks in Western African countries.
Amount
€ 5,000,000.00
Type of investment
Equity
Development impacts
- Local economic growth
- Financial inclusion
Beneficiary locations
Investment field
Financial Institutions
Activity
Commercial bank
Oragroup S.A. is a holding company managing Oragroup, located in Lomé and active in 12 Western African countries. The project consists of creating a regional banking platform across francophone West Africa, thereby reinforcing financial inclusion and SME financing. Through this project, BIO contributes to the creation of a unique regional group supporting local SME's in their regionalization and other customers in underserved countries.
The Group opened the first private bank in Benin in 1988, followed by
the acquisition of 4 additional financial institutions in Chad, Gabon,
Guinea and Togo.
Since the group was taken over by ECP, there has been a significant change in Oragroup’s shareholding structure, with Development institutions, BOAD and the Gabonese Strategic Investment Fund becoming leading shareholders. The Group made a strategic shift from a pure corporate banking (and big SMEs) platform to a universal banking model serving all types of clients with a focus on SMEs.
Development impacts
-
Local economic growth
Oragroup is a universal commercial banking Group active in 12 countries of Western and Central Africa. BIO's investment supports the deepening of the banking sector in the region through the support of a professional banking group serving all type of clients with a clear focus on SMEs.
-
Financial inclusion
Deposit-taking institution; Mobilization of savings is clearly an important focus as the Group’s has grown substantially.
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