Abidjan-based Pan-African financial holding firm, Genesis Holding Company (GHC), has acquired a 10 per cent stake in FBNBank Senegal, marking the entry of the first investor from the West African Economic and Monetary Union (WAEMU) region into the bank’s shareholder structure.
The financial details of the transaction were not disclosed.
The investment aligns with GHC’s strategy to deepen its footprint in Africa’s financial services sector, which it describes as a critical driver of economic growth. The company said the move also reflects its confidence in Senegal’s economic resilience despite prevailing macroeconomic challenges across the region.
Chairman and chief executive officer of Genesis Holding Company, Charles Kié, said the decision was informed by the strength of Senegal’s economy and the importance of supporting financial institutions to sustain growth.
He described FBNBank Senegal as one of the country’s most innovative and fast-growing banks, noting that the investment is consistent with the group’s long-term vision.
FBNBank Senegal, in its response, said the development signals strong investor confidence in its operations and growth prospects.
Managing director of the bank, Omar Dioum, welcomed the new shareholder, stating that Genesis Holding Company brings credibility and extensive experience in the financial sector.
Both institutions said the partnership reinforces their commitment to strengthening the financial system and supporting sustainable economic development across WAEMU member states.
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