A number of factors point to Africa’s extraordinary growth prospects, which are unrivalled around the world, these include a population that will double by 2050, profound changes in consumption patterns and demographic expansion, together with an optimistic and creative younger generation reaching maturity.

African countries have also been working to bring about economic stability. Tighter control of monetary policy, increased regional integration, the development of financial markets and a rigorous approach to regulation adopted by central banks have created a liquidity environment which is attracting foreign capital.

Against this backdrop, BMCE Bank of Africa – a leading private sector banking group with Moroccan roots and pan-African aspirations – has embarked on a strategy of accelerating its investment in across the continent. BMCE Bank of Africa is a universal bank with a highly diversified range of operations including retail banking, commercial banking, investment banking and specialised financial services, such as leasing, factoring, consumer credit and debt recovery.

The bank’s comprehensive investment strategy in Africa is much encouraged by its Chairman, Othman Benjelloun.

A number of successful ventures have validated the bank’s decision to adopt such a strategy. BMCE Bank of Africa took an interest in sub-Saharan Africa as early as the late 1980s as part of a first ever ‘South-South’ co-operative venture with Mali. Similarly, in Congo Brazzaville, in 2003, BMCE Bank of Africa acquired a major stake in La Congolaise de Banque, which it restructured. It is, today, the undisputed leader in its industry.

By building a presence in Africa through Bank of Africa (BOA), BMCE Bank of Africa aims to become a leading domestic, regional and African financial institution with extensive geographic coverage of most of the African continent by 2020. With nearly a 75% stake in BOA, in Banque de Développement du Mali to 32.4% and in La Congolaise de Banque to 37% this partnership is a model for the region, not only provides exposure to markets with strong growth potential but also brings together expertise and resources for greater wealth creation.

Bolstering operations

In terms of organic growth, BOA intends to bolster its existing operations to achieve a level of profitability commensurate with its ambitions, particularly in countries with strong growth potential such as Kenya, Tanzania, Uganda, Senegal and Ivory Coast, which is undergoing a reconstruction process.

Africa is not limited, however, to the West African Economic and Monetary Union (WAEMU) and Central African Economic and Monetary Community (CEMAC) regions. Prospects are attractive across the entire continent. Making inroads into English-speaking and Portuguese-speaking countries remains a medium-term objective. The goal for the next 10-15 years is to have operations in each of the 54 countries on the continent.

Bank of Africa Group’s growth prospects remain promising and are further enhanced by balance sheet consolidation via a series share issues by BOA Group and its subsidiaries as well as expansion projects underway in several African countries.

This international strategy, which also relies on developing a strong presence in international financial markets, has been further enhanced by establishing BMCE Bank International, a subsidiary of BMCE Bank of Africa in the UK specialising in corporate and investment banking activities with a focus on Africa.

Corporate social responsibility is deeply rooted in BMCE Bank of Africa’s corporate philosophy. In accordance with the express wish of the Chairman, BMCE Bank of Africa allocates around 4% of gross operating income to the BMCE Bank Foundation, which is unprecedented around the world. The BMCE Bank Foundation’s Medersat.com programme, which builds and manages rural community schools, can be justifiably proud of its achievement of having nearly 177 pre-schools and schools covering all 16 regions of Morocco and four schools in other African countries. The project has more than 450 teachers who have been educating nearly 18,500 pupils since 2000.

BMCE Bank of Africa Group’s continental ambitions also encompass the Medersat.com programme, which is to be rolled-out in other countries. After Senegal, Congo Brazzaville and Mali, the foundation, chaired by Dr Leila Mezian Benjelloun, plans to establish more schools across Africa.

An established presence

Resolutely focussed on international operations, with strong expertise in international business lines and a continuous development of its overseas network, BMCE Bank Of Africa spares no effort in assisting businesses worldwide.

With an established presence in 32 countries, BMCE Bank of Africa is committed to pursuing its expansion strategy all over the world. The bank currently has:

• Operations in 32 countries
• More than 13,000 employees
• More than 2,300 points of sale
• More than 5.5 million customers.

CSR: Internationally recognised commitments

• Medersat.com pupils obtains the third prize at the National Olympiads of Tifinagh, held in Tafraout in 2015
• Appointment of BMCE Bank of Africa for the Best CSR Arabia Award in the ‘Financial Institutions’ category
• BMCE Bank of Africa ranks in the Top 70 of the new ESG index, ‘Euronext Vigeo EM-70’, dedicated to emerging countries
• First initiator of a Socially Responsible Fund, through the Launch FCP ISR Capital Fund through BMCE Capital Gestion
• Jobs for Youth 2015: Best Employer in its Industry, result of a survey conducted by Amal Job
• HQE certification awarded by Cerway to BMCE Bank Academy of Africa in 2015
• Morocco Sustainable Energy Financing Facility (MorSEFF) launched in 2015
• First Moroccan company to issue Green Bonds to finance eco-responsible environmental projects in 2016
• First Bank to obtain ISO 50 001 Energy Management Certification and determination of carbon footprint for Moroccan activities in 2016.

About the BMCE Bank Foundation

• 177 units specialising in pre-school and primary education, covering all 16 regions of the Kingdom of Morocco
• 4 schools in Africa, including 2 in Senegal, 1 in Congo Brazzaville and 1 in Mali
• 450 teachers, 48% of who are women
• 10,000 pupils currently registered and 18,500 pupils schooled since 2000
• 1 fully equipped training centre for pre-school teachers built in Bouskoura
• 108 multi-media rooms built and equipped with the latest technology
• 6,000 pupils pursuing secondary studies
• BMCE Bank Group allocates 4% of its gross operating income to the foundation.

Further information
www.bmcebank.ma