Morocco’s Banque Centrale Populaire takes a controlling stake in Banque Internationale pour l’Afrique

It is reported that Morocco’s Banque Centrale Populaire (BCP), has taken control of Niger’s Banque Internationale pour l’Afrique (BIA-Niger), according to an an official from the Moroccan bank.

BCP’s director in charge of corporate and international development said they were investing 240 million dirhams (US$25 million) as a capital increase which represented 53 percent of the capital.

BCP, through its African holding company Atlantic Business International (ABI), would buy another chunk from investors in Niger, which will take its overall stake close to 70 percent. Source: Mbedi