AfricInvest exits banking group
AfricInvest has announced its exit from AFG Holding, a pan-African banking group headquartered in Côte d'Ivoire.
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AfricInvest has announced its exit from AFG Holding, a pan-African banking group headquartered in Côte d'Ivoire.
AfricInvest, through its vehicle AF IV, invested in AFG in October 2022. During the investment period, AFG’s consolidated balance sheet doubled from $3 billion to nearly $6 billion. It’s net loan portfolio expanded from $1.4 billion to $2.5 billion and net banking income more than doubled.
"We are proud to have supported AFG Holding during a pivotal stage of its development, helping to drive its strategic expansion. We have no doubt that the group will continue to play a transformative role in shaping the banking landscape across West, Central, and Southern Africa," said Youssouf Kone, director at AfricInvest.
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