Lomé-based Oragroup increased its capital to XOF69.415 billion

Banking

Thursday, 04 July 2019 14:52

Lomé-based Oragroup increased its capital to XOF69.415 billion

(Togo First) - Pan-African banking group Oragroup recently raised its capital to XOF69.415 billion, thus adding XOF6.097 billion to its initial capital. The new capital, the group indicates, is divided into 69,415,031 shares with a nominal value of XOF1000 per share.

From October 29 to November 22, 2018, the Lomé-based group had proceeded to an Initial Public Offering issuing 6,097,561 new shares and selling 7,785,445 existing shares at XOF4100 per share.

In the process, it raised on the regional financial market XOF56.92 billion. The operation was fully subscribed and this was the largest IPO ever recorded on the stock market.

According to Binta Touré Ndoye, former managing director of the group, “the fundraising will help us invest in digital banking, seize opportunities to expand in Central Africa, and boost the Group’s reputation among the people and the financial community, as well as boost equity of some subsidiaries.”

Séna Akoda

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

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CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

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CONSTRUCTION PERMIT (more info)

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PUBLIC PROCUREMENT (more info)

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PAYING TAXES AND DUTIES (more info)

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