Mahamadou Bonkoungou enters Togo’s banking industry

Friday, 09 July 2021 16:47
Mahamadou Bonkoungou enters Togo’s banking industry

(Togo First) - Burkinabe construction mogul and owner of EBOMAF, Mahamadou Bonkoungou, has decided to enter Togo’s bank and finance industry. The businessman launched June 29, 2021, a financial firm called IB Holding.

Registered as a one-person limited company (OPC) at the Togolese Trade and Property Credit Office, the firm has a seed capital of CFA30 billion.  IB Holding will “acquire stakes in the banking sector, in particular, credit institutions, electronic money institutions, decentralized financial systems, financial companies, auxiliary service companies and any other entity whose activity is related to them.”

Bonkoungou himself will chair IB Holding’s board of directors while Nabil Tahari, manager at IB Bank (also one of the Bonkoungou’s firms), will act as Managing Director of the new entity. IB Holding is headquartered in Tokoin Casablanca, the same as EBOMAF.

With IB Holding, Mahamadou Bonkoungou hopes to reinforce his operations in Togo. The finance company indeed joins EBOMAF, the billionaire’s construction company that is present in many African countries. 

In 2020, EBOMAF started constructing the N°5 Lomé-Kpalime national road (120 km); a project estimated to cost CFA214 billion. 

IB Bank for its part started operating in Djibouti last January. The lender was reborn from the ashes of Banque de l’Habitat du Burkina Faso (BHBF), which Mahamadou Bonkoungou purchased and renamed in 2018.  

 Esaïe Edoh

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