DRC: towards acquisition of BCDC by Equity Group

Equity Group Holdings Plc is on track to acquire the Commercial Bank of Congo (BCDC). According to an official announcement of September 9, 2019, he has indicated his intention to take the majority stake in this bank that exists from 1909. Objective: consolidate its position in the Congo.

« The Board of Directors has agreed to sign non-binding terms of reference with certain shareholders (selling shareholders) of the BCDC for the purchase of a majority stake in BCDC in cash, » the statement said. Equity Group.

In the event that this acquisition – merger is concluded, this will contribute to the creation of the second largest bank in the DRC with assets of more than one billion dollars.

The transaction in negotiation, the amount of which has not yet been disclosed, is subject to rigorous conditions for its conclusion. It requires, according to experts, due diligence, detailed transaction agreements and shareholder approval.

In April, Equity strengthened its presence in Africa by announcing the purchase of shares in banks in Rwanda (61%), Zambia, Mozambique and Tanzania (100% of assets of African Banking).

Kenya’s largest lender in terms of market value is operational in eight African countries and aims to penetrate 15 markets of the continent by 2026.

In Rd Congo, Equity Bank continue to mark and strengthen its footprint as a champion of Congolese economic and social prosperity.

Emilie MBOYO