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BOAD’s capital increases from FCFA 1,155 billion to FCFA 1,709 billion

After approving the first stage of the WADB capital increase on December 30, 2022, the WAMU Council of Ministers recently approved the related amendment to the Bank’s Articles of Association at its March 31, 2023 session. 

As a reminder, this first stage involved an amount of 554 350 M FCFA, i.e. 48% of the Institution’s capital. BOAD’s capital therefore rises from 1, ,155 billion FCFA to 1, ,709.35 billion FCFA.

The Djoliba Strategic Plan (2021-2025) aims to bring about a change of scale, particularly in terms of activity levels, strengthening the BOAD’s action in favor of its member states and the WAEMU private sector, and improving the living conditions of the Union’s populations. To this end, the capital increase under the Plan was structured in two (2) tranches. The first, for 554,350 M FCFA, has just been completed.

As part of the process of strengthening its capital, due diligence was carried out, with priority given to the historical regional shareholders, the eight (8) WAEMU States and the Central Bank of West African States (BCEAO), which have subscribed. Seven (7) of the eight (8) non-regional shareholders also took part in this first stage.

BOAD reiterates its thanks to its shareholders for their diligent and ongoing support.

In concrete terms, this first closing has led to a substantial reduction in the pricing of BOAD’s operations, in favor of the Union’s governments and private sector. It will also be used to raise business levels, including concession business. The strengthening of shareholders’ equity will also increase the institution’s resilience, helping to cushion any shocks it may face.

Due diligence is continuing with a view to finalizing the second phase of the operation, which will involve an amount, recorded under unsubscribed capital, and reserved for new non-regional shareholders, as and when their adhesions are approved by the Board of Directors.

Communication and Public Relations Department

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