BOA/Wema Bank MoU: “We have no plans to take over the Nigerian bank.”

BOA/Wema Bank MoU: “We have no plans to take over the Nigerian bank.”

The memorandum of understanding signed last month between the subsidiary of BMCE Bank group and Wema Bank is raising questions in the African banking sector. Indeed, BOA has no historic ties with Nigeria and has long been interested in pursuing an acquisition in the country.

Someone shares this article with you
            ▪ BOA/Wema Bank MoU: “We have no plans to take over the Nigerian bank.”

▪ The memorandum of understanding signed last month between the subsidiary of BMCE Bank group and Wema Bank is raising questions in the African banking sector. Indeed, BOA has no historic ties with Nigeria and has long been interested in pursuing an acquisition in the country.

https://www.africabusinessplus.com/en/800434/boa-wema-bank-mou-we-have-no-plans-to-take-over-the-nigerian-bank/

Contacted in Dakar by Jeune Afrique Business+, Kenza Lahou, Head of Synergies at BOA Group who supervised the agreement between the two establishments and the MoU, insisted that BOA had no impending plans to acquire Wema. “We have no intentions in this regard; it is purely a commercial partnership.”

This article is for subscribers only. To read more, subscribe with a special offer.

You are connected to your Jeune Afrique account but your Africa Business+ subscription does not allow you to consult the English version. To update your subscription, contact us by clicking here.

Recommended articles

Bank

15/10/2020 at 07h39, by Africa Business+, updated 19/10/2020

Sanlam looking for new partner in Nigeria’s FBN Insurance

Less than five months after buying 65% of FBN Holdings’ capital, the South African insurer is looking...

Bank

20/04/2020 at 16h44, by Africa Business+

Bank of Africa seeks to raise 1 billion dirhams by converting dividends

The €90 capital increase comes on top of the 3.6 billion dirhams (€325m) raised in 2019 to strengthen...

Bank

06/12/2019 at 17h24, by Africa Business+, updated 09/12/2019

Bankia follows in the footsteps of Caixa and Banco Sabadell in Morocco

A new Spanish bank is seeking to take advantage of growing trade links between Morocco and Spain.

Any questions ? contact us

Please get in touch with the Africa Business+ team if you require any further information.

Email us : customer.care@africabusinessplus.com

Add AB+ to your home screen

1. Click on + at the bottom of your screen.

2. Click on + to add AB+ on the home screen.

3. Enter the name of the shortcut and confirm.