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CAURIS CROISSANCE SELLS ITS STAKE IN BRIDGE BANK GROUP-CÔTE D'IVOIRE (BBG-CI)
Abidjan, Côte d’Ivoire, September 29, 2016: Cauris Croissance, the second fund managed by Cauris Management, the west African private equity fund manager, confirmed the sale of its stake in BBG-CI to the main shareholder of the said establishment, TEYLIOM International. The initial investment was made in 2006 with a follow-on investment in 2008, while generating a return on investment representing 3.1x the aggregate amount invested.
Created by TEYLIOM International with the support of Cauris Croissance and BOAD, BBG-CI began operations in June 2006 orienting towards SME segment, strongly claimant of innovative banking solutions. It gradually achieved a significant place in the Ivorian banking market yet highly competitive. The bank operates from 07 branches with 134 employees.
The initial investment of FCC allowed BBG-CI in 2006 to launch activities and in 2008 to support the development plan.
For Noël Yawo Z. Eklo, CEO of Cauris Management, "The intervention of FCC allowed to accompany the group in its diversification project, launch its banking subsidiary and support the development of the bank through its network of branches.
About Cauris Management
Cauris Management is an active private equity fund manager in the SME segment in West Africa for twenty years. The Cauris Management team realized 47 investments and 38 divestments during that period. The portfolio includes stakes in sectors as diverse as agribusiness, financial services, hospitality, telecom, distribution, energy, etc. Cauris Management operates from Lomé and Abidjan.
TEYLIOM is an African group, present in various sectors in the West & Central Africa region. TEYLIOM group aims to be a leading investor in Africa. Willing to be innovative and proactive, it engages in the development of economic activities in Africa.
The group drives its development from TEYLIOM International Holding, which controls all vehicles by sector: Teyliom Properties, Teyliom Hospitality, Teyliom Finance, Teyliom Industries, Teyliom Telecom and Teyliom Energy. As of 31 December 2013, the Group was constituted of 52 companies in 16 countries in Africa, Europe and the Middle East, with a total workforce of 629 employees.
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