Ahmed Cissé expands stake in Côte d’Ivoire’s BICICI bank

Côte d’Ivoire’s banking sector undergoes major reshuffle as Ahmed Cissé increases stake

The financial landscape of Côte d’Ivoire continues to evolve as the BICICI (Banque internationale pour le commerce et l’industrie de Côte d’Ivoire) sees its shareholder structure transform once again. Following BNP Paribas’ exit three years prior and the transition to purely Ivorian ownership, a significant development has unfolded: the Banque nationale d’investissement (BNI) has finalized an agreement to divest its entire stake in the bank.

The buyer? None other than Brandon & Mcain Capital, an investment firm led by Ahmed Cissé—a prominent figure in both the Ivorian business community and the presidency of the Conseil du patronat ivoirien (CGECI). This strategic acquisition grants Cissé’s company control over the 21.09% shareholding previously held by BNI, pending approval from the Commission bancaire de l’UMOA.

If cleared, Ahmed Cissé’s total ownership in BICICI will surge to 40.2%, nearly doubling his current 19.11% stake. This move signifies a pivotal moment for the bank, reinforcing its Ivorian roots while positioning Cissé as the dominant shareholder in one of the country’s most critical financial institutions.

As Côte d’Ivoire’s banking sector adapts to these changes, industry observers will closely monitor the Commission bancaire de l’UMOA‘s decision, which could reshape the future of BICICI and its leadership dynamics.