Deals
Casablanca Lender CFG Set to Join Moroccan Push Into West Africa
- Lender planning alliances in Ivory Coast or Senegal in 2019
- Amethis currently raising a second fund of 350 million euros
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CFG Bank, a Moroccan lender, is seeking to expand in French-speaking countries in West Africa by using Ivory Coast or Senegal as an entry point for its asset-management operations.
The Casablanca-based bank is looking to start "strategic alliances" in either country as early as 2019, said Laureen Kouassi-Olsson, the regional head for Western and Central Africa at Amethis Finance, a private-equity firm that recently acquired a 13-percent stake in CFG Bank. It may also consider acquisitions which would give it access to customers and a network that it could “reform,” she said.