The Moroccan group Banque Centrale Populaire (BCP) has just signed an agreement with the state of Niger to buy a majority share (over 70%) in the capital of the Banque Internationale pour l’Afrique Niger (BIA Niger), reports the Moroccan newspaper L’Economiste in its newsletter dated 19 August. The amount of the transaction has not been revealed. “The objective to reach through this transaction is to become the Nigerien market leader through the Atlantic Business International (ABI) holding”, confided a BCP management member to l’Economiste.

The BCP group is already present on the Nigerien market through ABI under the Banque Atlantic Niger trademark. With this acquisition, the Moroccan group becomes the first operator on the Nigerien banking market.

Created in 1944, BIA Niger is the second bank in the country.

After buying 35% shares in the capital of BIA Niger from BNP Paribas in 2011, the Burkinabe Coris Bank International was forced to sell its shares in the Nigerien company a year later, due to a conflict with the company’s union. Coris Bank wanted to move the capital of BIA Niger from FCfa 7 billion to FCfa 10.5 billion and develop a new “strong enterprise project” by actuating strategic levers such as the rationalisation of charges, the adoption of a new marketing policy and debt recovery.