Banque Centrale Populaire finalizes purchase of Banque des Mascareignes
Wednesday, 17 October 2018 18:33
Banque Centrale Populaire (BCP) finalized the purchase of the Mauritius-based Banque des Mascareignes and its subsidiary Banque des Mascareignes Madagascar.
BCP, present in 14 African countries received the approval of statutory authorities in Mauritius, Madagascar, and Morocco. With its Madagascar based partner Sipromad which operates in various sectors in Africa and India, BCP now controls two banking assets formerly owned by the French group BPCE.
The Moroccan group which is the sixth banking group in Africa in terms of equity will change the signs of these two banks.
The French group BPCE concluded the agreement on the sale of 100% of its stakes in Banque des Mascareignes and Banque des Mascareignes Madagascar in February 2018. Without revealing the amount of the transaction, BPCE indicated that it was going to focus on priority development zones and sectors.
Chamberline Moko
Live News
-
Ghana’s president to visit Zambia to deepen economic and trade cooperation
08:12
-
Manovo-Gounda-St Floris, the forgotten giant of Central Africa’s savannas
07:56
-
African artists face a ‘geographic penalty’ in streaming payouts despite 22% revenue growth
18:47
-
Ethiopia to Reopen Talks on $1 Billion Eurobond Restructuring After Creditor Concerns
18:43
-
Cameroon Ratifies Air Deal With Qatar, Opening Market to Qatar Airways
17:51
-
State Oil Firm SNH Reshuffles Leadership, Names Five Women to Senior Roles
17:48
-
Chinese Addax Petroleum accounts for about 30% of Cameroon oil output in 2025
18:02
-
Cameroon plans CFA4bn investment to improve Memve’ele hydropower reliability
17:53
-
Morocco Signs Three Deals to Strengthen Digital Offshoring
13:51
-
Khouloud Abada Launches RenYou to Streamline Skin Health Follow-Up
13:08
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
African startup M&A hits record 67 deals in 2025 Consolidation driven by funding pressures and ex...
Urban employment reached 53.7% in WAEMU in early 2025 Most jobs remain informal, low-paid, and in...
CBE introduced CBE Connect in partnership with fintech StarPay. The platform enables cross-border...
Moniepoint, Opay, Kuda, and others gain national status with tighter oversight A naira 5 billion ...
Visit scheduled from February 4 to 6, 2026, at the invitation of President Hakainde Hichilema Talks to focus on diplomacy, trade, investment, food...
Touted as a tool of emancipation, blockchain was meant to give the Central African Republic a new form of economic and digital independence. In practice,...
Ethiopia is placing technical and vocational training at the core of its growth strategy The policy targets youth employment amid high urban...
Madagascar accounts for nearly 60% of Africa’s clove output and export earnings Tanzania and Comoros rely heavily on cloves as key agricultural export...
Manovo-Gounda-St Floris National Park is one of the largest protected areas in Central Africa. Located in the northeastern part of the Central African...
Streaming dominates music, reshaping royalties and artist income worldwide Sub-Saharan Africa grows fast, but payouts stay far lower Platform, region,...