Banco da África to distribute 59 million euros in dividends


#Morocco : The Bank of Africa Group (BOA), majority owned by the Moroccan Bank for Foreign Trade (BMCE-Bank), will distribute approximately 59.4 million euros (39 billion FCFA) of dividends to its shareholders under the terms of 2018 , compared with 38 billion the year before.

This announcement was made by the bank's regional director for the UEMOA (Western African Economic and Monetary Union) area, Mamadou Igor Diarra, at the recent presentation in Abidjan of the results on 31 December 2018 of the six countries. The subsidiaries of BOA are listed on the Regional Stock Exchange (BRVM).

According to Diarra, "each bank has its distribution schedule," which begins one month after the General Shareholders' Meeting, noting that some subsidiaries have already submitted to this exercise and others must do so in the coming days.

"We will finish the entire distribution before the end of the semester," he said, welcoming "to note with satisfaction that, despite the difficult context," the Group recorded results in progress.

The subsidiaries are not necessarily in the same category, although the Ivorian place is a bit more stable, those of Senegal and Benin as those of Togo, but not of Mali, Burkina Faso and Burkina Faso. Niger who were somewhat affected by the insecurity found "in the area," continued Diarra.

Read too: Morocco. Banks: BMCE Bank of Africa becomes Bank of Africa

"But overall we are very pleased with the performance of our banks, despite a context marked by an increase in regulation where banks went to Basel II Basel III and migrated to a revised chart of accounts," he added. .

The BOA Group wants to further strengthen its resources and jobs, given the strong potential of small and medium-sized enterprises (SMEs), which are a driver of real growth and thus create wealth while taking care of all employment concerns young people in different countries.

In this context, "the bank made a change to offer SMEs in our space, not only financing tools but also tools (scanning) to manage these relationships with our banks" from the office or through their smartphone, one he explained.

The banking sector is "very dynamic and we are very happy to be avant-garde," said Mamadou Igor Diarra, who notes the support of Banco BMCE, majority shareholder and third bank in Morocco.

Read too: Burkina Faso: the hand of BMCE Bank Of Africa in a reference infrastructure

"This is true South-South cooperation whose benefits and repercussions are seen in our various banking centers," he said, noting that the Bank of Africa Group also wants to make financial communication within UEMOA one of its challenges.

Bank of Africa Group is now present in 18 countries in the continent, including eight in West Africa, eight in East Africa and the Indian Ocean (Burundi, Djibouti, Ethiopia, Kenya, Madagascar, Uganda). Tanzania, Rwanda), DRC and France.

Banco BMCE provides strong strategic and operational support to the Bank of Africa Group as well as direct access to international markets through its presence in Europe, Asia and North America. The BOA Group has about 6,000 employees.


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