The Moroccan group Banque Centrale Populaire (BCP) plans to acquire banks in Kenya, Rwanda, Ghana, and Tanzania, Bloomberg reported on 17 October citing one of the group’s managers.

"We’re looking for opportunities in Kenya, Rwanda, Ghana and Tanzania in the medium-term", said Kamal Mokdad, co-chief executive of BCP. The manager added that the bank wants to "source" 30% of its revenues from Africa by 2020 against 18% in 2017.  

On October 16, BCP announced that it had finalized the acquisition of Mauritius- based Banque des Mascareignes and its subsidiary Banque des Mascareignes Madagascar.

Late September, the Moroccan group present in 14 African countries announced that it entered into exclusive negotiations with the French group BPCE for purchase of that group’s majority stakes in four banks in Africa: BICEC (Cameroon), Banque Malgache De L'Ocean Indien S.A. (Madagascar) Banque Commerciale Internationale (DR Congo) and Tunisian-Kuwaiti Bank (Tunisia).