- Website: www.orabank.net
- Sector: Financial Services
- Country of operations: Multiple
At the heart of Afro-Capitalism
With 1,650 staff, a network of 123 bank branches and subsidiaries from Mauritania to Gabon, Oragroup can be considered one of Africa’s biggest financial services success stories.
The past few years have seen the bank expand from a presence in five countries in western and central Africa to one that now has 12 subsidiaries across the region, in four different currencies. Since 2009, its assets have increased seven-fold to $2.4bn, while its customer loans have grown eight-fold to $1.5bn. Through its network, Oragroup offers local and international customers a wide range of banking products and services, based on the principles of accessibility and responsiveness.
“We want to be a role model in pan-African banking”
CEO Binta Touré Ndoye
Its acquisition of Banque Régionale de Solidarité (BRS) in 2013 has proved key to its recent growth, but the bank has its sights set on further development. “That acquisition really made us what we are today, but it is by no means the last step in our expansion,” says CEO Binta Touré Ndoye. “Oragroup must now consolidate its growth, increase its consistency and deploy a corporate strategy based on strong values. We want to be a role model in pan-African banking.”
Binta acknowledges that the bank will need to further expand its network, invest in innovation and perhaps make more acquisitions. Oragroup is also planning to increase its workforce by more than 40% over the next few years, and focus on specific parts of the economies where it operates.
Orabank started operations in Benin in 1988 and now serves 12 African countries
“We continue to expand our network to best serve our customers and, increasingly, our focus is on financing SMEs as they represent the heart of an economy and the future of Africa,” says Binta. “We aim to be a pioneer in an emerging financial ‘Afro-Capitalism’ that is authentic, strong and durable.”
- 40% - The proportion by which Oragroup is planning to expand its workforce over the next few years