The Vista Bank financial group continues its conquest of the Guinean market. After acquiring Bicigui from France's Banque Nationale de Paris (BNP Paribas), the Burkina Faso-based group has just completed its bid to buy Orabank, which has several branches in Guinea.
“Having reached an agreement with ECP, BIO, DEG, Proparco and Envol Afrique to purchase, subject to regulatory approval, 61.4% of the shares of Oragroup S. A, the Lomé-based holding company of Orabank, which operates in twelve West and Central African countries (Togo, Côte d'Ivoire, Benin, Senegal, Burkina Faso, Guinea, Guinea-Bissau, Mali, Niger, Chad, Gabon, Mauritania) with total assets of $7.7 billion by the end of 2022, the group said in a press release. The two entities (Vista Group and Oragroup) will form a leading banking group operating in 16 countries with over 270 branches and representing combined total assets of over $10 billion.”
Source: Africa News Agency