Emerging Capital Partners picks BNP Paribas to arrange the sale of its stake in Orabank

Banking

Wednesday, 25 July 2018 14:23

Emerging Capital Partners picks BNP Paribas to arrange the sale of its stake in Orabank

(Togo First) - U.S fund Emerging Capital Partners (ECP), major shareholder of Oragroup, has picked BNP Paribas to lead the sale of its 59.84% stake in the Lomé-based company, La Lettre du Continent reveals.

Due to its good performances over the past two years, Orabank is eyed by many investors such as Beltone Financial. Indeed, the Egyptian firm which is held by billionaire Naguib Sawiris, announced last May that it wishes to acquire shares in Oragroup.

However, Beltone Financial which operates Egypt’s investment and assets management bank did not provide details about the volume of shares it eyes.

Present in 12 countries with 143 branches and 400,000 clients, Oragroup has recorded a 45% increase of its net profit in 2017, standing at $40.1 million.

Recently, Orabank got its first financial rating. The lender was rated A with a long-term stable outlook, by the Ivorian rating agency Bloomfield Investment.

Regarding its shareholding, so far, besides ECP, the bank is held by Proparco (9.92%), BOAD (2.47%), EBID (2.43%) and various minor stakeholders who hold 14.12% combined.

Fiacre E. Kakpo

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