Britain's CDC acquires 5 pct stake in Moroccan largest private bank

0 Comment(s)Print E-mail Xinhua, June 20, 2019
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RABAT, June 19 (Xinhua) -- Britain's development finance institution CDC Group has acquired an equity stake of five percent in BMCE Bank of Africa, the Moroccan largest private bank, the two groups announced on Wednesday in a statement.

CDC Group made a primary capital injection of 200 million U.S. dollars, it said, adding that this investment will help accelerate BMCE's expansion across Africa while also allowing the bank to leverage CDC's wide in-country networks.

This operation represents one of the largest single investments by a British institution in the Moroccan financial sector, the statement said.

It is a testimony to their joint vision and commitment to strengthening Africa's economy and improving people's lives, it added. Enditem

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