Bank & Insurance
BOA/Wema Bank MoU: “We have no plans to take over the Nigerian bank.”

BOA/Wema Bank MoU: “We have no plans to take over the Nigerian bank.”

The memorandum of understanding signed last month between the subsidiary of BMCE Bank group and Wema Bank is raising questions in the African banking sector. Indeed, BOA has no historic ties with Nigeria and has long been interested in pursuing an acquisition in the country.

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            ▪ BOA/Wema Bank MoU: “We have no plans to take over the Nigerian bank.”

▪ The memorandum of understanding signed last month between the subsidiary of BMCE Bank group and Wema Bank is raising questions in the African banking sector. Indeed, BOA has no historic ties with Nigeria and has long been interested in pursuing an acquisition in the country.

http://www.jeuneafriquebusinessplus.com/en/800434/boa-wema-bank-mou-we-have-no-plans-to-take-over-the-nigerian-bank/

14/11/2019 at 18h12, by Gaëlle Arenson, updated 15/11/2019

Contacted in Dakar by Jeune Afrique Business+, Kenza Lahou, Head of Synergies at BOA Group who supervised the agreement between the two establishments and the MoU, insisted that BOA had no impending plans to acquire Wema. “We have no intentions in this regard; it is purely a commercial partnership.”

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