in Short

Oragroup Scholarship makes the biggest introduction to the BRVM

On April 16, 2019, the pan-African banking group Oragroup made its entry on the Regional Stock Exchange (BRVM) at the first listing ceremony in Lomé. This introduction – the most important since the creation of the BRVM in 1998 – comes after the success of the 100% public takeover bid, from 29 October to 22 November 2018.

This public offer included the issue of 6,097,561 new shares, by capital increase, and the sale of 7,785,445 existing shares on the secondary market, at a price of CFAF 4,100 per share, that is a levy on the regional financial market of 56.92 billion CFA francs (86 million euros). At present, 20% of Oragroup’s capital is listed on the stock exchange (floating capital). The other current shareholders of the Group retain 80% of the capital, including pan-African investor Emerging Capital Partners (ECP), which remains the reference shareholder with more than 50% of the shares.

“ECP and Oragroup are today demonstrating that African finance is developing, that it is at the service of financing our economies and that we are witnessing the emergence of genuine African capitalism, capable of intensifying and accelerating the march towards the growth of the continent, and its profound and lasting transformation for the benefit of the populations. ECP’s strategy is to create value in each of its investments by bringing all the company’s activities to international standards in order to bring out regional champions accompanied over the long term, “explains Vincent Le Guennou, Chairman of the Board of Directors. Administration of Oragroup and Co-CEO of Emerging Capital Partners.

“This IPO is both the culmination of work done over the past 10 years but also and above all an incentive to continue in the same direction. Market confidence confirms the strength of our model and the growth potential of our Group. Oragroup intends to use this new room for maneuver to invest in the expansion of its network and customer services, mainly individuals and SMEs. This capital increase will enable us to make investments in the digital bank, seize growth opportunities in Central African countries, increase the Group’s visibility with the financial community and the general public, and reinforce funds. subsidiaries, “says Binta Touré Ndoye, Chief Executive Officer of Oragroup.

At the end of 2017, Oragroup had a balance sheet total of CFAF 1,794 billion (€ 2.72 billion), representing a growth of 45% since 2014. Deposits from customers throughout the Orabank network amounted to 1,179 billion CFA francs (+ 42% over the period) and credit operations to 1,085 billion CFA francs (+ 38%). In total, the Group posted net banking income of 108 billion CFA francs (164 million euros, + 33%) and net income up sharply by 45% year-on-year and 205% since 2014 at 21.97%. billion CFA francs (33 million euros).

In 10 years, Oragroup’s growth trajectory has been exemplary. The Orabank network has grown from a presence in five countries in West and Central Africa to a pan-African dimension with subsidiaries in 12 countries spread over four currency areas. After having been the “best regional bank in West Africa” in 2015 and 2017 (African Banker Awards), in May 2018 Oragroup obtained the Bloomfield agency’s long-term A and A2 short-term investment ratings. , thus recognizing the strength and performance of the Group. On November 30, 2018, the three entities of the Group in Burkina Faso, Senegal and Togo won the “Best Bank in their respective countries” trophy awarded by The Banker magazine, published by the Financial Times group.

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