The UMOA banking commission has imposed penalties on Oragroup at both the holding company and Orabank Côte d'Ivoire following the failure of the finalization of the deal for the purchase of Oragroup by Vista. But the West African Development Bank decided to take control of the situation and to recapitalize Oragroup

The exclusive sales agreement that had been signed between Vista and the group of selling shareholders was denounced by the latter for not obtaining regulatory approvals from the UMOA Banking Commission. In a recent report, the banking commission finally decided by condemning the governance of Oragroup, which resulted in penalties for the group at the level of both the holding company and Orabank Côte d'Ivoire. As a result, it did not grant its approval for the transaction. It should be noted that in 2023, Oragroup recorded a net loss of 18.186 billion CFA francs (around 28 million euros), compared to a profit of 19.199 billion CFA francs the

Following the board of directors held on Wednesday, August 21, Oragroup endorsed major changes at the end of its board meeting. Indeed, Vincent Le Guennou, former founding partner and co-CEO of ECP, current CEO of the Africa50 Infrastructure Acceleration Fund has left the functions he retained as president of Oragroup and the Senegalese banker Ibrahima Diouf, current special advisor to the president of the West African Development Bank (BOAD), is becoming the chairman of the board of directors

In reality, BOAD, the joint financing institution of UEMOA, a minority shareholder decided to take control of the situation and to recapitalize Oragroup. Ibrahima Diouf's task to turn the group around will be immense, starting with its share price, today of 1,880 CFA francs, against 4,100 CFA francs at the time of its IPO on the BRVM in 2019