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SHARES SALES : Vista Group/Oragroup come to an agreement

Tiemtore, American-Burkinabe and the founder of the Vista Group company have acquired 61.4% shares from Oragroup S.A, the holding company of Orabank based in Lomé and represented in 12 countries in Central and West Africa. The agreement was signed between the two parties on August 10, 2023.

The Vista Group has reached an agreement with ECP, BIO, DEG, Proparco and Envol Africa, for the repurchase, subject to regulatory approvals, of 61.4 % of the shares of Oragroup S.A. The Orabank holding company based in Lomé and with subsidiaries Togo, Côte d’Ivoire, Benin, Senegal, Burkina Faso, Guinea, Guinea-Bissau, Mali, Niger, Chad, Gabon, Mauritania, had assets of $ 7.7 billion, or about 4206 billion FCFA at the end of 2022.

The two financial institutions now form a leading banking group, present in 16 African countries and has more than 270 branches. They hold a total asset of 10 billion dollars (5948 billion FCFA). Once the agreement has been signed, the Vista Group intends to expand its presence in other markets such as Waemu, Zomoa and Cemac, in accordance with its strategic objective of becoming a leading pan-African banking institution operating in twenty-five countries by 2025-2026.

According to Moody’s rating agency, Vista Group’s ambition is to become a leading pan-African group that will reach a wide range of customers through carefully designed products, which will allow it to build an integrated and efficient banking and insurance group, capable of providing innovative offers that meet the needs of its customers.

To achieve its ambition on the continent, Lilium Group, the shareholder of Vista Bank, has equipped itself with a team of a strong team. We can mention among others, Didier Nkiere, American financier of Congolese origin, co-founder of Lilium Group, the Senegalese Abib Gaye, ex-executive of the World Bank and craftsman of the digital transformation of the group, the Gambian Yassin Bayo, a banker by profession specialized in mergers and acquisitions, the Cameroonian Thierry Hot, Considered as the diplomat of the team. And finally, Stéphane Ouedrago, Franco-Burkinabe, brilliant economist, in charge of Business Development and strategy of Lilium Group, the owner of Vista Bank.

For Simon Tiemtore, chairman of the board of directors of the Vista Group, the takeover of Oragroup is an important step in the growth strategy of his holding, which strategy is based on the ambition « to become a pan-African financial services group present in 25 countries and to play a role as a catalyst for economic development ».

Sorelle Ninguem

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