Project detail - B.O.A. GROUP S.A.

B.O.A. GROUP S.A.

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Who is our client

The Bank Of Africa (B.O.A) Group was set up in 1982, and is since 2010 majority-owned by the Moroccan banking group, BMCE Bank. FMO has been a shareholder in B.O.A. Group since 2003. FMO has participated in last year’s capital increase of the B.O.A. Group.

Funding objective

FMO is investing an additional USD 5.3 million of equity in the general growth of the group.

Why we fund this project

The B.O.A. Group is one of the few pan-African universal banking group with presence in 17 countries in Africa. In line with FMO’s general strategy to empower entrepreneurs, the B.O.A. Group plays an important role in strengthening local businesses and has a strong footprint in Low Income Countries. To play a more meaningful role in the Group, FMO is now further increasing its stake in the Holding.

Region
Africa
Country
Africa
Sector
Financial Institutions
Signing date
11/14/2003
Total FMO financing
EUR 22.24 MLN
Fund
FMO
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B