Attijariwafa Bank Merges Real Estate Arm to Boost Efficiency
Wednesday, 19 March 2025 09:31
The merger is expected to be finalized in 2025, pending approval from the relevant authorities.
Attijariwafa Bank is merging with its real estate subsidiary, Borj Attijari, in a move to streamline its business. The bank, which fully owns Borj Attijari, announced the decision on March 18 following board approval on March 10.
Borj Attijari focuses on developing office towers and commercial spaces. By absorbing it, Attijariwafa aims to make its real estate division more efficient and better positioned for growth. The bank is already active in Africa’s real estate market through Wafa Immobilier, its financing arm since 1991.
The merger is expected to be completed this year. Since Attijariwafa already owns Borj Attijari, the move will not affect its share capital.
Africa’s real estate market is growing, fueled by urban expansion and foreign investment, but access to loans remains a challenge. By restructuring, Attijariwafa Bank aims to strengthen its role in the sector and adapt to market demands.
Live News
-
Senegal, Azerbaijan sign digital cooperation deal on e-government
15:21
-
US strikes in Nigeria expose split between security goals and religious narrative
14:24
-
African Union to fund three think tank consortia through ATTP platform
13:56
-
Nigeria: U.S. Military Intervention in Sokoto, a New Test for the Country’s Financial Credibility
13:30
-
Swiss‑Belgian Company Pumps 1.3 billion Francs into WWF Cocoa Project Targeting Jobs and Forest Protection
13:12
-
Cameroon Backs AfCFTA Corridor Project as IOM Secures AfDB Funding
12:15
-
Nigeria fintech Clea eases international supplier payments for businesses
17:15
-
Morocco accelerates airport digitalization at Casablanca hub for AFCON 2025
16:12
-
Lomé Commercial Fortnight runs through January 4, 2026
15:38
-
Cameroon positions 650,000 hectares for deforestation-free cocoa under EU rules
13:48
Kenya shipped its first mango consignment to the UK on December 20 The move is part of a pilo...
Nomba brings Apple Pay to 300k Nigerian shops. Following Paystack, this "second row" move enables ...
Kenya’s CMA licensed Safaricom and Airtel Money as Intermediary Service Platform Providers (ISPPs)...
In Africa, the transformation of food systems has become an urgent issue in the face of rapid popula...
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Dakar and Baku sign two agreements on digital transformation Cooperation targets cybersecurity, skills, startups, and e-government Partnership...
Trump says US forces hit Islamic State fighters in Sokoto state Abuja confirms strikes but rejects claims of a religiously driven...
AU selects three African think tank consortia under its ATTP funding scheme Each consortium could receive about $10 million over two and a...
NALA has secured PSP and PSO licenses from the Bank of Uganda, adding to its 2024 Money Remittance license. Backed by $40M in Series A...
Afrochella, now known as AfroFuture, is a cultural event held annually in Ghana, mainly in Accra, around the Christmas and end-of-year period. Launched in...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...