BGFI Holding to Offer 10% Stake in Historic IPO on BVMAC
TLDR
- Pan-African banking group BGFI Holding Corporation will launch its initial public offering (IPO) on the Central African Stock Exchange (BVMAC) on July 15
- The public share offering aims to raise 15.7 billion CFA francs ($27.6 million) over a two-month subscription window
- BGFI will become the first multinational from the CEMAC region to list on the BVMAC
Pan-African banking group BGFI Holding Corporation will launch its initial public offering (IPO) on the Central African Stock Exchange (BVMAC) on July 15, 2025, offering 10% of its capital to the public. The public share offering aims to raise 15.7 billion CFA francs ($27.6 million) over a two-month subscription window.
The IPO was approved during an extraordinary general meeting on June 25 in Libreville. BGFI will become the first multinational from the CEMAC region to list on the BVMAC, a move expected to boost confidence in a still-nascent regional financial market.
The proceeds will strengthen BGFI’s equity base and support the expansion of its subsidiaries in strategic growth markets. The group also announced a shift to a listed-company governance structure, separating the roles of CEO and Chairman to enhance transparency and oversight.
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Key Takeaways
BGFI Holding’s IPO marks a rare milestone for the CEMAC zone, where stock market development has lagged other African regions. With just six companies currently listed on the BVMAC, the entry of a high-profile, pan-African banking group signals a potential inflection point for the regional exchange. BGFI is the largest banking group in Central Africa, with total assets nearing 6,000 billion CFA francs ($10.5 billion), customer deposits of 3,883 billion CFA francs ($6.8 billion), and net banking income of 347 billion CFA francs ($610 million) in 2024. The group posted a record net profit of 122 billion CFA francs ($214 million) last year, with Gabon and Central Africa contributing over 70% of profits. The IPO, led by BGFIBourse, could set a precedent for other regional firms considering listings. According to market sources, Cameroonian bank CBC and Zenithe Insurance may also list on the BVMAC later in 2025. Beyond capital raising, BGFI’s listing serves as a strategic signal, aligning corporate governance with international standards and deepening its investor base.
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