The ownership structure of the Banque internationale pour le commerce et l’industrie de Côte d’Ivoire (BICICI) continues to evolve. Three years after BNP Paribas withdrew and local investors took full control, the Banque nationale d’investissement (BNI) has finalized an agreement to sell its entire stake in the bank to Brandon & Mcain Capital on July 13.
Ahmed Cissé, founder of Brandon & Mcain Capital and also serving as president of Côte d’Ivoire’s private sector federation (CGECI), will acquire the 21.09% stake currently held by BNI. Pending approval from the West African Monetary Union’s banking commission, this acquisition will increase his total ownership to 40.2%, up from his current 19.11%.
