# West African banking sector market expansion

> Live situation record from CLSTR: https://clstr.news/situations/west-african-banking-sector-market-expansion
> Updated: 2026-09-16T20:21:02.000Z. Sources: 8. Developments: 2.

Major financial institutions in West and Central Africa are expanding their regional market presence through capital increases and stock exchange listings.

In the CEMAC zone, BGFI Holding Corporation S.A. has initiated a capital increase on the BVMAC to raise 80.558 billion XAF. By issuing 1,006,975 new shares at 80,000 XAF each, the group aims to increase public ownership from approximately 3.85% to 10%. This follows a previous phase in November 2025 and is intended to strengthen equity, improve share liquidity, and support regional economic financing.

Simultaneously, in Côte d’Ivoire, Bridge Bank Groupe Côte d’Ivoire (BBGCI) is preparing for its first listing on the BRVM following a successful Public Offering of Sale (OPV). The OPV mobilized 67.5 billion FCFA with a subscription rate of 142%, aiming to diversify the bank’s shareholder base and increase transparency within regional financial markets.

## Timeline

### 2026-09-16: BGFI Holding launches 80.5 billion FCFA capital increase

BGFI Holding Corporation is raising 80.558 billion FCFA through a second phase of capital increase to raise public ownership to 10% and strengthen its position on the BVMAC.

6 sources. https://clstr.news/cluster/bgfi-holding-launches-805-billion-fcfa-capital-increase

### 2026-09-14: West African banks expand regional market presence via stock listings

BGFI Holding Corporation and Bridge Bank Groupe Côte d’Ivoire are expanding their regional market presence through new stock listings and capital increases on the BVMAC and BRVM exchanges.

2 sources. https://clstr.news/cluster/west-african-banks-expand-regional-market-presence-via-stock-listings

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Cite as: West African banking sector market expansion. CLSTR, https://clstr.news/situations/west-african-banking-sector-market-expansion