The ownership structure of the Banque internationale pour le commerce et l’industrie de Côte d’Ivoire (BICICI) continues to evolve. Three years after BNP Paribas exited and local investors took control, the Banque nationale d’investissement (BNI) has finalized an agreement to sell its entire stake in the bank to Brandon & Mcain Capital.
This transaction, officially announced on July 13, transfers the 21.09% equity and voting rights held by the BNI to the investment firm founded by Ahmed Cissé, who also serves as president of Côte d’Ivoire’s private sector federation (CGECI). Pending approval from the UMOA Banking Commission, Ahmed Cissé’s stake in BICICI will rise to 40.2%, up from his current 19.11%.