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Acquisition: Vista signs deal to buy Oragroup

12/08/2023
Categories: Companies

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The Vista Group has reached an agreement with ECP, BIO, DEG, Proparco and Envol Afrique. This agreement aims to repurchase, subject to regulatory approvals, 61.4% of the shares of Oragroup S.A, Orabank's based holding company

.

The two entities (Vista Group and Oragroup) will form a leading banking group operating in 16 countries with more than 270 branches and representing a combined total of more than $10 billion in assets. With this new acquisition, the Vista Group is significantly expanding its presence in other markets and geographic areas (100% of UEMOA, 50% of ZMAO, 35% of CEMAC) in Africa, in line with its strategic objective of becoming a first-choice pan-African banking institution operating in twenty-five countries by 2025-26, in order to promote financial inclusion, trade and intra-African

exchanges.

Vista aims to become a leading pan-African group that will reach a wide range of customers through carefully designed products, allowing it to build an integrated and efficient banking and insurance group capable of providing innovative offerings that meet the needs of its customers.

Orabank's holding company based in Lomé and operating in twelve countries in West and Central Africa (Togo, Côte d'Ivoire, Benin, Senegal, Burkina Faso, Guinea, Guinea-Bissau, Mali, Niger, Chad, Gabon, Mauritania) with total assets of 7.7 billion dollars at the end of 2022.

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