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

B.O.A. GROUP S.A.

Status: Approved investment
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Why disclosure?

FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

In case of questions

In case of questions, please contact us at disclosure@fmo.nl

Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

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.

What is our funding objective?

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

Why do we fund this investment?

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
Effective date
11/14/2003
Total FMO financing
EUR 22.24 MLN
Funding
FMO NV
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