July 2016: Emerging Capital Partners’ investee company Oragroup recently announced the appointment of Ms. Binta Touré Ndoye as General Director and Chief Executive Officer (CEO) of the Pan-African bank on July 1st 2016. Ms. Ndoye replaces Mr. Patrick Mestrallet, who had held the position since 2009.
Prior to joining Oragroup as Deputy Group CEO in 2015, Ms. Ndoye was Managing Director of Ecobank’s Togo operations. She also held a range of other leadership positions with the bank between 2007 and 2015.
Since ECP’s investment in Oragroup in 2008, the Pan-African bank has more than doubled its countries of presence to 12 West and Central African countries (Bénin, Burkina Faso, Côte d’Ivoire, Gabon, Guinée, Guinée Bissau, Mali, Mauritanie, Niger, Sénégal, Chad, and Togo) spanning four currency areas. Oragroup’s strong expansion strategy, which included the 2013 acquisition of Banques Régionales de Solidarité (BRS), has facilitated a 30-fold increase in its gross earnings since 2009 and a seven-fold increase in its balance sheet over the same time period. The bank was also able to expand its loan provision services eight-fold and has steadily reinforced its position as serving clientele working in the real economy, most notably entrepreneurs, shop-owners, craftsmen, and tradesmen.
Orabank’s 2015 figures continue to encourage, demonstrating the company’s current resilience amid volatile macroeconomic influences, including the slump in oil and commodity prices in 2015 and 2016.
Looking ahead to 2016 and beyond, Ms. Ndoye plans to continue to cultivate the bank’s presence in its key markets and across Africa. She also aims to strengthen the bank’s commitment to its corporate principles, among them supporting job creation and providing financing to the private sector and to infrastructure projects to enhance the continent’s economic integration and competitiveness. Ms. Ndoye further aims to continue expanding the bank’s savings offerings to facilitate increased consumption smoothing.