On Thursday, May 11, 2023, the CBAO raised 10 billion FCFA on the financial market of the West African Economic and Monetary Union (UEMOA). It was the result of an issue of subordinated bonds

The CBAO, a subsidiary of the Attijariwafa Bank Group and the largest Senegalese bank, has successfully completed its last subordinated bond issue on the regional financial market in the WAEMU zone, for a total amount of 10 billion FCFA. According to a press release sent to Orishas Finance, the objective of this fund raising is to strengthen the bank's equity via its Tier 2 regulatory ratio and to expand its product and financing offer in the region, particularly in Senegal. The transaction was very popular with investors, including the international fund ALCB Fund, which was the main

“We are honored to attract an internationally renowned fund like ALCB Fund, which is intervening for the first time on subordinated bonds in our UEMOA zone. This reflects confidence in the fundamentals of CBAO and, through it, in the Attijariwafa Bank Group,” said Mounir Oudghiri, CEO of the CBAO. Karl von Klitzing, Chairman of ALCB Fund, said he was delighted that the entity he heads was the reference investor for the CBAO subordinated bond issue, which, in his opinion, has always historically supported economic growth and the development of UEMOA by offering financial services adapted to all of its customers, especially

According to this, this transaction was clearly in line with the mandate of the ALCB Fund, which is to “support the development of local financial markets while offering local currency financing to micro-businesses, SMEs and low-income households.”

To ensure the success of this operation, the CBAO teams were able to count on the support of several arrangers. Attijari Finance Corp, which is the investment banking subsidiary of the Attijariwafa bank group, a pan-African banking and financial group. Active across the continent, Attijari Finances Corp relies on a team of around forty employees based in Casablanca, Abidjan, Tunis and Dubai. Attijari Securities West Africa (ASWA) is the Attijariwafa Bank Group's Management and Intermediation Company for the West Africa sub-region. It is approved by the AMF-UMOA. The Attijariwafa bank group's regional trading room in the UEMOA zone was also alongside

About ALCB Fund

Launched by KFW, the ALCB fund encourages primary corporate bond issues in local currency by working with African issuers, investors, and intermediaries to bring new transactions to the market. His areas of interest include: financial inclusion, infrastructure, agriculture, housing, education, health, and renewable energy.

About the CBAO

CBAO Groupe Attijariwafa bank is the leading bank in Senegal with nearly 400,000 customers, 100 branches, more than 1100 employees and a total balance sheet of 1419 billion FCFA as of 31 December 2022. CBAO is present in the sub-region through 3 branches in Burkina Faso, Niger and Benin