Development Partners International offers a 20.2% of the share capital of Atlantic Business International. Helps to strengthen the own funds of Atlantic Business International (ABI), a member of the group BCP.
New reconfiguration of the round table, Atlantic Business International (ABI). After having increased its ownership interest from 65% to 75% in 2015, the Group Bank Central Populaire (GBCP) has, in fact, initiate another major operation that alters the geography of the capital stock of ABI, with notably the arrival of the fund Development Partners International (DPI). This capital-british investor will inject 100 million dollars in the capital stock of ABI. And, at the end of this operation, including agreements related thereto have been signed by Kamal Mokdad, managing Director of the PCO in charge of the International, and Sofiane Lahmar, partner in the CIO, the participation of the GBPC in ABI will be reduced to 68.3%, compared to 20.2% for DPI and 11.5% for Atlantic Financial Group (AFG).
This transaction will allow “to strengthen the own funds of ABI to finance its ambitious policy of organic growth and acquisitions,” says-t-on with the BCP. It “will have as immediate impact of the increase in equity of ABI of $ 100 million following the entry of DPI, which will also be accompanied by an injection of $ 30 million by the PCO as well as the contribution by the latter of its interest in the guinean subsidiary BPMG,” says-t-on with the moroccan bank, while stressing that “this operation will allow an improvement of the effect of leverage with other donors”.
Footprint sub-saharan high
It must be remembered that the growth ambition of ABI is clearly included in the strategic plan Elan 2020 that devotes thirty strategic fields of action brought by the highest level of management of the Group. It is in this context, as argued by Mohamed Benchaâboun, CEO of the Group BCP, during the presentation of the annual results 2015, to be based on three growth drivers, namely leadership in technological innovation at the service of the client, the strengthening of the synergies of intra-group and the development footprint in strategic sub-saharan.
In this way, by opening its capital to a partner referred to as DPI, ABI will not only improve its financial strength and its reputation, but is seen especially offer new opportunities in the framework of its development strategy. Has the BCP, it is not said elsewhere something else. This deal allows you to “take advantage of the presence of DPI on some areas in which the PCO is not active yet”, such as Ghana and Nigeria, said it.
Clearly, Africa is at the heart of the development strategy of the Banque Populaire Group. “We will continue to develop by diversifying our investments, or consolidating in the countries of presence”, it was said, rightly, Benchaâboun.
Commitments multifaceted in the continent
At the same time to deal with DPI, the Group Bank Central people’s has signed an agreement with the State of côte d’ivoire concerning funding of 66.7 billion CFA francs [1.09 billion dirhams]. Objective : modernize road infrastructure, including the strengthening of the axis Gagnoa-Yabayo (79 Km) and Agboville-Thomasset (45 Km).
Similarly, a line of financing Mourabaha of 40 million euros will be mobilised in favour of the holding company ABI by International Islamic Trade Finance Corporation (ITFC), a subsidiary of the Islamic Development Bank (IDB). This convention aims to promote the activity of international trade of the SMES in the zone UEMOA (economic and monetary Union of west africa).