The Ivorian government adopted a decree whereby the share capital of the public bank Versus will be increased to CFA14.58 billion through the issue of 267,233 new shares. This was announced yesterday June 27 during a Ministers’ Council with the president Alassane Ouattara.
According to the government, the shares will be transferred to the Retirement Funds of State Officials “Caisse Générale de Retraite des Agents de l'Etat” (CGRAE) which is charged to collect contributions from government officials and manage pension schemes. Therefore, the fund will acquire 47.11% shares in the bank’s capital while the government will hold the remaining 52.89%.
Authorities said the move aims to align the bank’s management system with WAEMU’s new prudential banking regulations and also to strengthen its growth momentum.
Let’s note that Versus Bank which launched activities in March 2004, was acquired by the Ivorian government in January 2009.
Chamberline Moko
Absa Kenya hires M-PESA’s Sitoyo Lopokoiyit, signalling a shift from branch banking to a telecom-s...
Ziidi Trader enables NSE share trading via M-Pesa M-Pesa revenue rose 15.2% to 161.1 billio...
MTN Group has no official presence in the Democratic Republic of Congo, where the mobile market is d...
This week in Africa, Africa CDC is stepping up its drive for health sovereignty, building new partne...
Ghana has 50,000 tonnes unsold cocoa at ports Cocoa prices fell from $13,000 to around ...
South Africa led with 35% of total deal value, ahead of Kenya and Egypt Inbound deal value rose over 40%, outbound value jumped nearly...
FQM and Anzana plan up to 50 MW of hydropower in northern Zambia Power will supply FQM mines through a wheeling deal with Zesco Move comes...
Togo’s GDP per capita surpasses $1,300 in 2025, supported by economic growth above 6%. The United Nations revises population data downward...
The Tree Crops Development Authority targets $600 million in investment commitments, or $100 million for each of six strategic tree crop...
“Dao” ranks among the three films in official competition at the 76th Berlinale and marks Alain Gomis’ second bid for the Golden Bear. The film...
Fort Jesus is a fortress located in Mombasa, on Kenya’s coastline, at the entrance to the natural harbor that long made the city a hub of trade in the...