Shareholders of the Banque de l’Habitat du Tchad approved a recapitalisation on 14 October in N’Djamena, providing for Atlantic Financial Group to enter as majority shareholder, according to a statement from the Chadian Ministry of Finance published on 19 October. The transaction remains subject to authorisation from the Central African Banking Commission.
The amount of the investment, the price of the deal and the exact stake AFG is to hold have not been made public. This regulatory reservation means control of the bank has not yet been definitively transferred.
The Ivorian financial group is to provide equity and contribute to strengthening the bank’s governance and operational capacity. The stated aim is to revive its role in financing the Chadian economy, particularly housing.
AFG would join the shareholder base alongside the Chadian State, the National Social Welfare Fund (Caisse nationale de prévoyance sociale) and the Chad Hydrocarbons Company (Société des hydrocarbures du Tchad). Before this operation, the capital of 10 billion CFA francs was held 50% by the State and 25% by each of the two public bodies, according to EcoMatin and Financial Afrik.
The Banque de l’Habitat du Tchad was created in 2015 and began operating in 2017. AFG is already present in the CEMAC zone, in Cameroon and Gabon.