The Central African Banking Commission (COBAC) has given the green light to the acquisition of Société Générale Congo by BGFIBank Congo, a subsidiary of the BGFIBank Group, according to a press release dated June 28, 2024. Two days earlier, COBAC had informed in a note consulted by Financial Afrik of the complete transfer of the shares held by the Congolese State in the capital of ADIC SA (formerly Société Générale Congo) to BGFIBank Congo SA
With this transaction, BGFIBank Congo SA becomes the sole shareholder of ADIC SA (formerly Société Générale Congo), thus holding 100% of the shares. COBAC invited BGFIBank Congo to complete all necessary steps to merge ADIC SA with it before December 31, 2024.
This decision represents a significant step forward in the BGFIBank Group’s growth strategy, consolidating its position as a leading financial player in Central Africa. “The acquisition of Société Générale Congo illustrates the strength and effectiveness of our Dynamic Business Project 2025, which aims to ensure controlled, profitable and sustainable growth for the BGFIBank Group. In line with the fifth pillar of our Strategic Plan focused on development, the Group continues to seek new expansion opportunities in its various countries of operation, thus positioning itself as a major player in the transformation of African economies,” said Mr. Henri-Claude OYIMA, Chairman and CEO of the BGFIBank Group.
In 2023, BGFIBank Group posted remarkable results with a total balance sheet of USD 9 billion, net banking income of USD 492 million and consolidated net income of USD 156 million.
“This acquisition is a major step forward for our sustainable growth and risk management strategy, with the ambition of becoming the benchmark bank on the markets,” they said in Libreville.
The BGFIBank Group maintains a tradition of Excellence and Innovation. It enriches its offer thanks to the expertise of its partners and opens up to new areas. With more than 2,600 employees in twelve countries, the Group supports a diversified clientele on a daily basis: Benin, Cameroon, Central African Republic, Congo, Ivory Coast, France, Gabon, Equatorial Guinea, Madagascar, Democratic Republic of Congo, Sao Tome and Principe and Senegal.
