• Oasis Capital sold its 16.12% stake in Mansa Bank Côte d’Ivoire

• The exit marks the second divestment by Oasis Africa Fund I

• Mansa Bank’s largest shareholder remains Mansa Financial Group with 37.5%

Oasis Capital Ghana announced on June 20 that it has sold its entire stake in Mansa Bank Côte d’Ivoire. The identity of the buyer and the financial details of the transaction were not disclosed.

The fund manager previously held 16.12% of the Ivorian commercial bank and was its second-largest shareholder. Oasis Capital joined Mansa Bank in October 2021 through its investment arm, Oasis Africa Fund I. The investment was made to support the bank’s growth plans in Côte d’Ivoire’s financial sector.

According to official statements, the decision to exit was made by mutual agreement. This marks the second time Oasis Capital Ghana has exited an investment since its creation.

El-Hassana Kaba, CEO of Mansa Bank, acknowledged Oasis Capital’s role during the partnership. “We are grateful for the valuable partnership with Oasis and for its positive contribution during its time as a shareholder,” he stated.

Mansa Bank Côte d’Ivoire obtained its license in February 2019 and started operations in January 2020. The bank’s largest shareholder remains Mansa Financial Group with 37.5% of the capital. Other shareholders include the West African Development Bank (BOAD), insurance firm Askia Assurances, and West African private investors, most of them from Côte d’Ivoire.

This article was initially published in French by Chamberline Moko
Edited in English by Ange Jason Quenum