CAURIS CROISSANCE SELLS ITS STAKE IN BRIDGE BANK GROUP IVORY COAST (BBG-CI)
Cauris Croissance, the second fund managed by Cauris Management, the West African private equity fund management company, has confirmed the sale of its stake in BBG-CI to the company’s main shareholder, TEYLIOM International Group. In 2006, Cauris Management acquired a stake in BBG-CI followed by additional investment in 2008, generating a cumulative return on investment of 3.1 times the amount invested.
Bridge Bank Group – Ivory Coast
Created by TEYLIOM International with the support of Cauris Croissance and BOAD, BBG-CI started its activities in June 2006, focusing on the SME segment, which is strongly in demand for innovative banking solutions. It has gradually reached a significant position in the Côte d’ Ivoire banking market, which is nevertheless very competitive. The bank operates from 07 branches with 134 employees. FCC’s initial investment in BBG-CI enabled the company to launch activities in 2006 and support the development plan in 2008.
For Noël Yawo Z. Eklo, CEO of Cauris Management,”FCC’s involvement has enabled the Group to support the diversification and launch of its banking subsidiary and to support the bank’s development through its branch network:
- Teyliom Properties;
- Teyliom Hospitality;
- Teyliom Finance;
- Teyliom Industries;
- Teyliom Telecom;
- Teyliom Energies.
At 31 December 2013, the Group was made up of 52 companies in 16 countries in Africa, Europe and the Middle East with a total workforce of 629 employees.
About TEYLIOM
TEYLIOM is an African group, present in different sectors of activity in the West African region and Central Africa. The TEYLIOM group aims to be a benchmark investor on the African continent. By striving to be innovative and proactive, it is committed to the development of Africa’s economic activities.
The group carries out its development from its holding company TEYLIOM International, which controls all vehicles by business line