(Ecofin Agency) - Two months ago, Sunu acquired a majority stake in Banque Internationale pour le Commerce et l'Industrie du Sénégal (Bicis), a former subsidiary of BNP Paribas in Senegal. After this acquisition, the financial group is selling its minority stake in the Ivorian bank Bicici.

On June 27, financial services group Sunu announced the sales of its 19.11%  stake in Bicici, a former subsidiary of French banking group BNP Paribas. It disclosed that transaction in a threshold crossing declaration published on the Abidjan-based exchange BRVM.

The shares were sold to investment firm Brandon & MCain Capital, owned by Cissé Ahmed, president of the largest Ivorian employers’ organization (CGECI) and chair of the Bicici board since May 4, 2023.

This transaction marks Sunu’s exit from Bicici and the Ivorian banking sector as well as a time when it is entering the Senegalese market with the acquisition of a 54.11% stake in local bank Bicis.

It completed the acquisition of Bicis, a former subsidiary of BNP Paribas, on April 28. Doing so, it increased the number of banking groups in its portfolio to two, Sunu Bank Togo included.

Chamberline Moko