BANK OF AFRICA

Historical leadership, pan-African success, international expansion.

Who we are ?

BANK OF AFRICA Group (BOA Group) is currently present in 18 countries: 8 in West Africa (Benin, Burkina Faso, Côte d’Ivoire, Ghana, Mali, Niger, Togo and Senegal), 8 in East Africa and the Indian Ocean region (Burundi, Djibouti, Ethiopia, Kenya, Madagascar, Uganda, Rwanda, Tanzania), the Democratic Republic of Congo and France. The BOA Group network of 17 commercial banks, 1 global holding company, 2 regional holding companies, 1 investment company, 2 technical support subsidiaries, 2 processing and IT support companies, and 1 representative office in Addis Ababa.

Since 2010, BANK OF AFRICA Group has been majority-owned by BMCE Bank (whose name recently changed to BANK OF AFRICA), the 3rd largest bank in Morocco. BMCE Bank brings strong strategic and operational support to BANK OF AFRICA Group, as well as direct access to international markets in view of its presence in Europe and Asia.

Established over 35 years ago in Mali, BOA Group currently has a total of about 6,000 employees. In the year ended 31 December 2020, the Group recorded a consolidated balance sheet of 8.7 billion Euros and consolidated net income of 102.7 million Euros.

On the right, Mr. Amine Bouabid, the Chief Executive Officer of BANK OF AFRICA Group

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boa values

Our values

BANK OF AFRICA Group is run daily by multi-cultural teams based in very different geographical zones, and is built on values of tolerance and sharing.

The multiple experiences and expertise have contributed the rich human diversity at BOA Group.

BANK OF AFRICA Group continues to expand owing to highly committed men and women united by a common identity. There is a shared feeling of belonging to the same structure, and a desire to continuously pursue the same objectives, and with the same values.

The operations and initiatives of BANK OF AFRICA Group are based on hard work, discipline and respect of promises made to customers, partners and providers.

All BANK OF AFRICA teams are committed to building quality relationships with customers in terms of services provided and human relations.

Finally, BANK OF AFRICA Group is a reliable and solid partner to the public and private institutions in the countries where it is present. This is reflected in one of its top priorities, consisting of contribution to the economic growth of these countries and the provision of banking services to citizens.

shareholding

BOA Graph Pie 1 3

Shareholding as of December 31st, 2019

AN INTERNATIONAL GROUP

OUR PRESENCE

As of today, BANK OF AFRICA Group is present in 18 countries.

BANK OF AFRICA Group (BOA Group) is present in 18 countries, including 8 in West Africa (Benin, Burkina Faso, Côte d’Ivoire, Ghana, Mali, Niger, Togo and Senegal), 8 in East Africa and the Indian Ocean zone (Burundi, Djibouti, Ethiopia, Kenya, Madagascar, Uganda, Rwanda, Tanzania), in the Democratic Republic of Congo and France, through a network of 17 commercial banks, 1 global holding company, 2 regional holding companies, 1 investment company, 2 technical support subsidiaries, 2 IT processing and support companies, and 1 representative office in Addis Ababa.

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OUR LOCATIONS

OUR PARTNERS

All the financial partners of BANK OF AFRICA Group, in their historical, capitalistic or operational dimension, share two characteristics: a strong African anchoring and a desire to work for a better future for African citizens.
BMCE BANK OF AFRICA

The leading shareholder of the BMCE BANK OF AFRICA Group, with 72.41% of the capital of BOA GROUP as of December 31st, 2019.

BMCE BANK OF AFRICA is also a powerful ally, which is portrayed in a multifaceted synergy: commercial support, Social and Environmental Responsibility, risk management, technical cooperation, operational collaboration, pooling of credit decisions, e.t.c.

FMO

(Netherlands Development Finance Company) is a Dutch public development institution, which finances companies and projects in developing countries. It is a long-standing partner of BANK OF AFRICA Group, which has contributed to its capital structure and has helped with its growth.

PROPARCO

(Promotion and Participation for Economic Cooperation) is a French financial institution dedicated to financing and supporting businesses in addition to financial institutions in developing countries. This institution is also a long-time shareholder of the Group and has contributed to its expansion and empowered its visibility and credibility.

BIO

(Belgian Investment Company for Developing Countries) is also a Belgian institution which invests directly and indirectly in SMEs in developing countries and thus makes a structural contribution to the socio-economic growth of the hosting countries. This company has supported the Group for many years,

particularly in countries where Belgian cooperation is strongly involved, such as Burundi or the DRC.

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News

2 new branches at BOA-MADAGASCAR

Relocated in a brand new head office since the end of 2019 (our brief 21th of November 2019), our Malagasy subsidiary has just launched 2 new points of sale at this place. A new branch called Galaxy (name of the head Office building) and a new Business Center.

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Performances

The power of a reference group

The BANK OF AFRICA Group currently has nearly 6,000 employees. The Group’s performance is good, as it had a consolidated balance sheet total of EUR 8.7 billion as of December 31, 2020, and recorded a consolidated net profit of EUR 102.7 million as of that date.

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