The battle that pitted Sunu, the Franco-Senegalese Pathé Dione bancassurance group, against Lilium Capital, an investment holding company headed by the Burkinabè Simon Tiemtoré, for the takeover of the International Bank for Commerce until the end of July. and Industry of Senegal (Bicis), owned by the French giant BNP Paribas, is indicative of the appetite of West African businessmen for the banking sector, long dominated by foreign groups
After five months of tough discussions against a backdrop of political influence (the Senegalese presidency having taken a position in favor of its compatriot, according to our information), Pathé Dione finally won the day and concluded with François Benaroya, head of the Europe-Mediterranean region, an agreement confirming the exit of BNP Paribas from Senegal. Until now, Sunu had only one microfinance subsidiary in the country – Kajas – and thus made a remarkable entry by taking over the sixth largest bank – with 6% of total assets on the market in September 2021. At the end of 2020, it posted a balance sheet total of 483 billion CFA francs (736 million euros), up 10% over four years. In the aftermath, the Franco-Senegalese has joined the project of the Africa golden bank (AGB), which has filed an approval file in Cameroon.
Burkina: banker Simon Tiemtoré makes his mark in Faso
A year earlier, Simon Tiemtoré (Vista Bank) and the Ivorian Bernard Koné Dossongui had already clashed for control of three subsidiaries put up for sale by BNP: in Burkina, Guinea and Mali. If the group financier of Koné Dossongui seized the French stakes in Bicim (International Bank for Commerce and Industry of Mali), those of Burkina and Guinea, on the other hand, fell into the hands of the banking group of Burkinabe, also present in Guinea and Sierra Leone, with the sale of 51% of the capital of Biciab and 55% of Bicigui to Lilium Capital, which controls Vista Bank.