Vista Bank (Africa)
Vista Bank is a banking group in Africa, controlled by Burkina Faso-born financier Simon Tiemtoré. It has been described as one of a new cohort of multinational banking groups in Africa, together with Coris Bank.[1]
Overview
[edit]In 2016, Tiemtoré set up a holding company in New York City, Lilium Capital, through which he acquired the distressed First International Bank (FIBank), a lender based in the Gambia with operations in Guinea and Sierra Leone,[2] which he renamed Vista Bank in 2021.[3]
In 2020, Vista Bank announced its acquisition of the stakes held by BNP Paribas in two banks, BICIGUI in Conakry, Guinea and BICIAB in Ouagadougou, Burkina Faso.[4] BICIGUI was renamed Vista Guinée (VistaGui) in July 2021.[5]
In August 2023, Vista announced an agreement to acquire a majority stake in distressed multinational banking group Oragroup based in Lomé, Togo,[2] but the acquisition process failed to obtain regulatory approval and was eventually terminated after a year.[6] In December 2023, Vista announced the acquisition of Société Générale's majority stakes in its respective subsidiaries in Burkina Faso and Mozambique.[7] The latter transaction was finalized in August 2024.[8]
See also
[edit]References
[edit]- ^ "French Banks' Exit from Africa to Spur Local Banks' Growth, Competition". Fitch Ratings. 26 April 2024.
- ^ a b Omar Ben Yedder (18 September 2023). "Banking expansion just the start for Lilium Capital". African Business.
- ^ "FIBank is now Vista Bank (Gambia) Limited". B&FT Online. 23 February 2021.
- ^ Ristel Tchounand (19 October 2020). "Banques : Simon Tiemtoré s'offre les filiales de BNP Paribas au Burkina Faso et en Guinée". La Tribune Afrique.
- ^ Mamadou Aliou Diallo (30 July 2021). "Guinée : Vista Bank officialise l'acquisition de la Bicigui qui devient Vista Guinée". Financial Afrik.
- ^ "Facing Acquisition Roadblocks, Oragroup Turns to Recapitalization". Ecofin Agency. 29 August 2024.
- ^ "Societe Generale signs agreements to sell two subsidiaries in Africa to Vista Group". Société Générale. 7 December 2023.
- ^ "Vista Group Holding finalise l'acquisition de Banco Société Générale Moçambique SA". Le Faso.net. 8 August 2024.
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