Oragroup wins accolades for contribution to African economic development

June 2017: Emerging Capital Partners (ECP) is pleased to announce that portfolio company Oragroup, a Pan-African bank with operations spanning 12 West and Central African countries, has been recognized for its contribution to Africa’s banking industry and economic development more broadly. Oragroup won a Private Equity Africa award for “Portfolio Company of the Year” in the developmental impact category as well as an African Banker award for “Best Regional Bank in West Africa.”

At the 2017 Private Equity Africa GP & Advisor Awards hosted by Private Equity Africa, a London-based publication focused on Africa’s private equity industry, Oragroup was recognized for working closely with regulators to implement best-in-class anti-money laundering and anti-corruption standards. The company was commended for its systematic application of these practices and for training personnel and monitoring global financial sanctions across the group and its subsidiaries.

Oragroup also won “Best Regional Bank in West Africa” at the African Banker Awards hosted by African Banker, a London-based print news source dedicated to banking and finance in Africa. The award recognized Oragroup for its strong growth and contribution to the region’s economic and commercial development. Oragroup has played a key role in nurturing and strengthening economic development by providing financing to SMEs and promoting inclusive growth. Oragroup has also deployed innovative payment methods in its Togo subsidiary by becoming the first bank in Western Francophone Africa to offer mobile Point-of-Services (mPOS), allowing customers to use their phone as a mobile payment terminal. Oragroup plans to deploy mPOS across other subsidiaries in the coming months.

Following Oragroup’s award wins, Andrew Brown, Chief Investment Officer at ECP, commented, “ECP is delighted that Oragroup is being recognised for its contribution to advancing Africa’s banking industry through initiatives such as driving stringent governance standards and pioneering the delivery of new mobile payment technology. As the sector consolidates, banks that can successfully adapt and innovate, like Oragroup, will emerge the strongest and we look forward to supporting Oragroup’s leadership team as the company continues to grow.”

For more detail on the award winners, please see the Private Equity Africa 2017 award site here and the African Banker Awards site here.