CNPS bails out CNCE
The private sector pension fund (Caisse Nationale de Prévoyance Sociale – CNPS) has spent CFA francs 22bn to acquire a 43,878-m2 plot in Abidjan’s Zone 4 from the State’s National Savings Bank (Caisse Nationale des Caisses d’Epargne – CNCE).
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▪ CNPS bails out CNCE
▪ The private sector pension fund (Caisse Nationale de Prévoyance Sociale – CNPS) has spent CFA francs 22bn to acquire a 43,878-m2 plot in Abidjan’s Zone 4 from the State’s National Savings Bank (Caisse Nationale des Caisses d’Epargne – CNCE).
▪ https://www.africabusinessplus.com/en/799058/cnps-bails-out-cnce/
This deal, which was approved by a Government decree in October, forms part of CNCE’s restructuring plan. It further strengthens the bank’s equity base. Since 2018, the CNCE has received capital of CFA francs 40bn for a restructuring programme which aims to improve solvency and profitability.
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