Bank & Insurance
CNPS bails out CNCE

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).

http://www.jeuneafriquebusinessplus.com/en/799058/cnps-bails-out-cnce/

16/10/2019 at 15h48, by Jeune Afrique Business+, updated 22/10/2019

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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