1 – Who is selling and why?
Created in 1985, with the original name Financial Bank, Orabank is a private banking group now present in 12 countries in West and Central Africa: Benin, Burkina Faso, Côte d’Ivoire, Gabon, Guinea , Guinea Bissau, Mali, Mauritania, Niger, Senegal, Chad et Togo. The group is piloted by a holding company based in Lomé, Oragroup SA, headed by Cameroonian Ferdinand Ngon Kemoum who succeeded Senegalese Binta Touré Ndoye in 2019. Since the takeover of the group by Emerging Capital Partners (ECP) in 2008, Oragroup’s shareholding has changed a lot, with the entry into its capital of reference shareholders such as Proparco, BIO, DEG, BOAD, the Gabonese Strategic Investment Fund.
The dimension and positioning of the bank in French-speaking Africa as well, going from six countries of establishment to the arrival of the fund manager at 12 today. During the first sale of Oragroup, its net banking income reached nearly 127 billion CFA francs (nearly 221 million euros, during the period in 2018), i.e. a multiplication by twelve compared to to 2008, according to ECP. More recently, at the end of 2021, Oragroup represented a balance sheet total of more than 4,000 billion CFA francs (+25% compared to 2020). In terms of financial performance, the consolidated net income group share reached 10.8 billion CFA francs. the year last.
Oragroup, a sale in the spotlight