The Ivorian holding company Genesis Holding Company (GHC) announced its acquisition of a 10% stake in FBNBank Senegal, a subsidiary of the Nigerian group First Bank of Nigeria. The transaction amount did not been made public.

The Senegalese banking market registers a new strategic movement. Genesis Holding Company acquired a 10% stake % in FBNBank Senegal, becoming the leading investor in the region of UEMOA to join the bank's shareholder base. The holding company based in Abidjan said that this operation was part of its strategy. of expansion in the African financial sector and reflected its confidence in the economic fundamentals of Senegal.

noted that FBNBank Senegal, a subsidiary of the group First Bank of Nigeria operates on the Senegalese market and provides financial services to businesses, institutions and individuals. The bank described the transaction as a sign of confidence in its growth trajectory.

noted that the Cross-border investments within UEMOA remain limited indeed compared to flows dominated by international banking groups and pan-African institutions like Ecobank or UBA. Taking a stake Direct from a regional investor in a Senegalese bank is the sign of an increasing integration of intra-African capital