• Vista gains approval to acquire majority stake in Chad’s BAC
• Deal marks Vista’s expansion into Central African banking market
• Acquisition targets low financial inclusion and unmet banking demand

Vista Group Holding, controlled by Burkinabe banker Simon Tiemtoré, has received regulatory approval to acquire a majority stake in Chad’s Banque agricole et commerciale (BAC), the country’s finance ministry said on Monday.

Once the deal closes, the West African financial group will become the bank’s majority shareholder. The number of shares acquired and the financial terms were not disclosed.

Details of the deal structure were also not disclosed, including whether it involves a capital increase or the transfer of existing shares. Vista plans to establish Vista Bank in Chad through the acquisition, with BAC expected to be rebranded Vista Bank Tchad.

Already present in five sub-Saharan African countries, including Gambia, Guinea, Sierra Leone, Burkina Faso and Mozambique, Vista is making its first move into Central Africa with this transaction. The group aims to expand its network to 25 countries across the continent in the coming years. In July 2025, it announced plans to launch banking operations in Côte d’Ivoire and Senegal, with the Ivorian project at an advanced stage.

The acquisition is part of that expansion strategy. It opens up a new market for the group and allows it to roll out its banking model in a context where demand for financial services remains largely unmet.

Founded in 1998, BAC finances agricultural and commercial activities in Chad. The bank has a small presence in the local banking system, with a credit market share of 0.39% in the first quarter of 2025, according to a report by the Bank of Central African States (BEAC) on lending rates in the CEMAC zone.

Chad’s banking sector comprises 10 active institutions. According to the African Development Bank’s 2025 country report, financial inclusion remains low, with only 15% of the population having access to formal banking services. Credit to the private sector is below 10% of GDP, compared with more than 30% on average in sub-Saharan Africa, and banks mainly provide short-term financing.

Chamberline Moko