Finance

Banque Centrale Populaire announces acquisition of majority stake in a Senegal-based fintech

Tuesday, 04 December 2018 15:31
Banque Centrale Populaire announces acquisition of majority stake in a Senegal-based fintech

(Ecofin Agency) - Banque centrale populaire (BCP), a Morrocan bank listed on Casablanca stock exchange, is about to acquire the majority stake in a Senegalese fintech.

This was revealed by a Moroccan media citing Kamal Mokdad, director of BCP responsible for international operations. The latter provided no additional detail on the identity of the fintech company nor did he disclose the amount BCP would invest for this acquisition.

"It is a Senegal-based tech company which has Total group as one of its shareholders", Kamal Mokdad said to the press.

In Morrocco, some media indicate that it could be Fintech Intouch. Indeed, this platform that facilitates access to digital services and digital money transfer has already partnered with the oil company Total.

BCP, present in 14 African countries recently announced its programme "Fintech challenge" aimed at supporting African tech companies in their development.

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