Signature(s)
Summary sheet
The operation consists of the EIB's acquisition of a 19% stake in the capital of CFH. This investment will be complemented by technical assistance to support the modernisation of a banking group operating in Central Africa.
The purpose of CFH, which was established in 2005, is to acquire a majority shareholding in each of the three banks that make up the Commercial Bank group: Commercial Bank-Cameroun (CBC), Commercial Bank-Centrafrique (CBCA) and Commercial Bank Tchad (CBT).
This group, which is around 10 years old, has undergone radical and necessary changes over the last year or so to sustain its development, which was starting to show its limitations within the existing structures. It was therefore decided to establish a new institutional framework by:
- creating the holding company CFH;
- looking for new partnerships (EIB and IFC equity participation and technical assistance).
In this context, the project's objectives will be to help to unify and modernise management, strengthen the rules of governance in accordance with international banking standards, exploit potential synergies between the different banks and improve the group's ability to face up to competition. This project satisfies the Cotonou Agreement's objectives of strengthening local financial sectors and supporting regional integration.
The Commercial Bank group will ensure that all the necessary permits and authorisations issued by the competent authorities are obtained for the projects financed. The application of national environmental regulations will be systematically required. In any event, socio-environmental guidelines taking account of the EIB's principles in this sphere will be introduced once the Bank has acquired a stake in CFH.
The banks in the Commercial Bank group will ensure that its customers' selection of supplies and/or services includes the competitive tendering necessary to guarantee the sound economics of each project. Similarly, the EIB's equity participation in the holding company will result in appropriate directives being applied including, if required, international tendering.
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Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).
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