The BMCE Bank of Africa announces the signing of a strategic partnership with the CDC Group, a UK funding and development institution 100% owned by the UK government.
The CDC will acquire a nearly 5% share of the Bank through a capital increase of $ 200 million. "In addition to the equity investment, this partnership is a true industrial project that will allow the BMCE Bank of Africa Group to strengthen its position in Africa while capitalizing on the CDC Group's wider network in the continent," said the bank's launch.
In fact, with a presence in 31 countries, including 20 in Africa, the group is now one of the 7 main banking groups present on the continent. The Group's operations in Sub-Saharan Africa now account for almost half of the consolidated profits of BMCE Bank of Africa. "With its international presence, the Bank aims to create value for the continent by channeling international investments from its hubs in Morocco, Europe and Asia, and by providing innovative retail banking solutions in Africa," the statement said.
This continental vision is also at the heart of CDC's policy, which, with more than 70 years of investment experience in Africa and Asia and more than 700 companies in its African portfolio, is strongly committed to the continent and plans to invest up to US $ 4.5 billion in Africa through 2022 in different sectors and through various investment solutions.
"This strategic partnership between the BMCE Bank of Africa and the CDC represents one of the largest investments made by a British institution in the Moroccan financial sector and reflects its shared vision and commitment to strengthen the African economy and improve people's living conditions," he explains. the group.