(ORAGROUP) – The banking group Oragroup takes note of the decision of the Banking Commission of the West African Monetary Union (WAMU), which at its 121th session on September 18, 2020, issued an unfavorable assent to its request ” prior authorization for the modification of the shareholding structure »From the holding company and the group’s subsidiaries located in Benin, Côte d’Ivoire and Togo.
This request to the Banking Commission followed the agreement, announced on November 21, 2019, for the partial sale of the shares held in Oragroup by the pan-African investment fund Emerging Capital Partners (ECP) to the Social Security Institute – General Retirement Fund for State Employees (IPS-CGRAE) of Côte d’Ivoire. The agreement also concerned several institutional shareholders (Proparco, DEG, BIO and BOAD).
This agreement came after the listing of Oragroup on the Bourse Régionale des Valeurs Mobilières (BRVM), in April 2019, for 20% of its capital, i.e. the largest operation since the creation of the BRVM in 1998, and a 56.92 billion CFA francs (86 million euros) raised on the regional financial market.
IPS-CGRAE has subscribed to this public sale offer for 9% of the floating capital of Oragroup and remains an important partner of the Group.
About Oragroup
Oragroup is present in 12 countries of West and Central Africa (Benin, Burkina Faso, Côte d’Ivoire, Gabon, Guinea Conakry, Guinea Bissau, Mali, Mauritania, Niger, Senegal, Chad, Togo) and in four monetary zones (UEMOA, CEMAC, Guinea Conakry, Mauritania). With 157 bank branches and 2,077 employees, Oragroup offers more than 500,000 customers (large companies, national and international, SMEs and individuals) a wide range of banking products and services based on the principles of proximity and responsiveness. Working towards financial inclusion through the deployment of innovative solutions, Oragroup focuses on segments of the population that had hitherto been neglected. This commitment is reflected in its CSR approach, which is an integral part of its strategy and is a priority for its management bodies, focused on energy transition, environmental and social risk management, and the well-being of the public and its employees. . For more information, please visit www.orabank.net or on LinkedIn, @Groupe Orabank on Twitter, Facebook, Instagram, YouTube. Also discover KEAZ, the new digital platform of the Orabank group.
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