Banque Populaire du Maroc issued the following announcement on Dec. 12.
On the occasion of the 2018 edition of the Financial Afrik Awards, the Banque Centrale Populaire (BCP) group was consecrated in the "Deal of the Year" category, with reference to its acquisition of the African subsidiaries of the French group BPCE.
This trophy was awarded on the sidelines of the evening of presentation of the "100 personalities who transform Africa" organized this Tuesday, December 11 in Abidjan, by the panafrican monthly Financial Afrik.
"The jury has chosen the BCP and its International Managing Director, Mr. Kamal MOKDAD, an actor in an acquisition [acquisition of African subsidiaries of BPCE] that carries meaning and durability from a political, economic point of view , financial and social, "said Financial Afrik magazine.
As a reminder, the BCP group announced that in September 2018 it entered into exclusive negotiations with the BPCE group, which retained its firm offer for the acquisition of its interests in four banks in Africa: (1) the International Bank Cameroon for Savings and Credit, (2) Malagasy Bank of the Indian Ocean, (3) International Commercial Bank in the Republic of Congo and (4) Tunisian-Kuwaiti Bank in Tunisia.
This acquisition would allow the BCP Group to significantly accelerate its development by expanding its geographic coverage to 17 countries in Africa. It is part of the continuity of the strategic vision defined for the International, which aims to build the first banking group of the continent, with solidarity and strong local roots. It would enable the banks concerned to rely on a financial and industrial partner with solid experience in the banking sector, and able to further develop their activity, particularly in terms of contribution to financial inclusion and corporate financing.
Original source: http://www.gbp.ma/EspaceCommunication/Pages/Actualite.aspx?IdActu=909