BAIC at the top position of the funding of the economy in Benin and the WAMU area

May 03, 2017 Written by

Since the beginning of our operations in November 2015, we have taken a position as one of the prominent actors in economic activity funding in Benin and in the WAMU area as well. We

Since the beginning of our operations in November 2015, we have taken a position as one of the prominent actors in economic activity funding in Benin and in the WAMU area as well. We supported several structuring development projects as well as investment ones.

As national and sub-regional industry development is one of our main goals, we have thus advised and financed many industrial projects including the one relating to the installation and operation in Benin of a modern cashew nut shelling unit with a projected export capacity of 10 000 Metric Tons per year.

In fact, we contributed to the funding of that unit via a syndicated loan, amounting of XOF 4,000 million. This industrial unit is the pioneer in the field of cashew nut processing in Benin. The factory will employ about 1,500 people.

It is also worth knowing that BAIC, so far, supported WAMU economy through investment in sovereign financial instruments (mainly T-bills and bonds) issued by the Governments of Benin, Niger, Mali, Côte d’Ivoire and Togo for a total amount of about XOF 5,000 million which contributed to support various developmental projects.

As far as the Republic of Benin is concerned, in addition to our investments in the Government’s financial securities, the bank has approved various Public Private Partnership (PPP) transactions amounting roughly XOF 10 000 million. The various key sectors targeted includes the infrastructures, which is considered as a main driver on which the national economic should leverage on for the GPD growth.

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Beyond these actions, our commitment is real in the consulting business. Thus, we have successfully advised several import operations; Marketing of petroleum products in the Port of Cotonou for major and strategic players in the market.

Read 1546 times Last modified on Wednesday, 03 May 2017 10:34