Burkinabe lender International Business Bank eyes Togolese market

Economic governance
Friday, 22 February 2019 17:41
Burkinabe lender International Business Bank eyes Togolese market

(Togo First) - International Business Bank (IBB), former Banque de l’Habitat du Burkina Faso will enter the Togolese market, and others in the sub-region, in line with its expansion strategy.

The bank’s interest in Togo could be explained by the recent improvements in the country’s business environment. Indeed, many African and global firms have come to the country, thus making its banking sector more competitive.

Raphaël Bankou, IBB’s managing director, said that the lender will in Togo intervene in the retail banking and housing finance sectors. Leveraging its relay equipment and latest generation facilities, IBB “will offer its customers the best banking services and aims to become a major player, preferred by business operators.”

Let’s recall that the group’s majority stakeholder (51%), Mahamadou Bonkoungou, who leads Burkina Faso’s construction sector, already operates in Togo, in the construction sector. 

Séna Akoda

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