Gabonese banking group BGFIBank plans to open 10% of its capital to investors via the Central African Stock Exchange (BVMAC). This strategic operation, initially planned for 2020, takes place in a more serene economic context and aims to strengthen the dynamism of the regional financial market.
During the inauguration of the new headquarters building of its subsidiary in Cameroon, Henri-Claude Oyima, Chairman of the BGFIBank group, announced that BGFI Holding will go public in 2025. According to him, the decision, initially planned for 2020, had been postponed due to uncertainties related to the Covid-19 pandemic. “The board of directors considered that it was not appropriate to launch this operation in a climate marked by fear and uncertainty,” he told Investir au Cameroun. Today, in a more stable environment, the group is preparing to offer investors a unique opportunity to acquire up to 10% of its capital.
Solid financial performance
BGFIBank presents itself with impressive financial results, consolidating its position as a regional leader. Between 2019 and 2023, net banking income increased from 175 billion to 302 billion FCFA, an increase of 72%. Net profit quadrupled, reaching 95.8 billion FCFA in 2023. This growth is explained by controlled cost management, illustrated by a reduction in the operating ratio from 79% to 65%. For 2025, the group is counting on a total balance sheet of 6,000 billion FCFA, deposits of 4,000 billion and net banking income of 363 billion.
A symbol of dynamism for the regional financial market
By joining the BVMAC, BGFIBank will become the eighth company to appear in the equity compartment of this platform and the third Gabonese entity to be listed there. This initiative also responds to an explicit request from the BVMAC, which encourages large companies in the Cemac zone to animate the regional financial market. Henri-Claude Oyima, also chairman of the board of directors of the BVMAC, believes that it is his duty to set an example. However, the precise terms of this operation, such as the share price or the nature of the shares transferred, have yet to be defined.
A strengthened commitment to Cameroon
This announcement was made as part of the inauguration of the Sirius Building, the new ultramodern headquarters of BGFIBank Cameroon in Douala. With this eight-storey building, the Cameroonian subsidiary confirms its strategic role in financing structuring projects of the State and local companies. In 2023, BGFIBank Cameroon posted a net income of 11 billion FCFA and a total equity of 600 billion. The bank has also been recognized for its commitment to compliance and social responsibility, receiving national and international distinctions.
Towards a new era of growth
BGFIBank’s IPO marks a new step in the realization of its strategic plan “Dynamique 2025”, which has already exceeded several initial objectives. This operation is part of a vision of sustainable growth and strengthening financial transparency. Potential investors are now waiting for the group’s 2024 balance sheet, which will be a key criterion for evaluating this opportunity. With this momentum, BGFIBank is positioning itself as a major player in economic and financial development in Central Africa.
