The head of the Gabonese-origin banking group, a leading player in Central Africa, spoke this week in an interview with Jeune Afrique.

Since the early 2000s, BGFI Bank has been enjoying strong momentum and intends to build on this success in the years ahead. This was highlighted in an interview given this week by its CEO, Henri-Claude Oyima, to the weekly magazine Jeune Afrique.

The bank’s first major challenge is the success of its initial public offering. “Since July, I have been chairing the Board of Directors of BVMAC, the new unified stock exchange of Central Africa (resulting from the merger of the Libreville and Douala stock exchanges). It is important to set an example by listing our group,” Mr. Oyima stated. He added: “We will sell a minority stake (15% to 20%), most likely in the second half of 2020.”

He then addressed the second major challenge facing the group. “Next year, we will assess the results of the Excellence 2016–2020 plan, which aimed to improve our performance while maintaining a high level of profitability (…) We will also launch our 2021–2025 strategic plan, which will be made public in November 2020,” said the CEO of BGFI Bank.

“The project will focus on growth. To achieve this, we must strengthen our commercial activities, control credit costs, optimize human capital and transform the group. This will also involve digital transformation and the development of new products,” he added.

At the helm of the BGFI Bank Group since 1985, Henri-Claude Oyima summarized the group’s strategy over the past decade: “Our Cap 2011–2015 plan focused on international expansion, with several subsidiaries opened in West and Central Africa. The Excellence 2016–2020 plan, on the other hand, prioritized performance rather than growth, meaning profitability through the consolidation of our human, financial and material resources. Our upcoming 2021–2025 plan will once again put growth at the forefront.”

In the same interview, Henri-Claude Oyima explained that in the coming years, “the development of the BGFI Bank Group will be driven by new establishments or acquisitions in Central and West Africa.” He also noted that the funds raised through the IPO, which will enable the bank to “diversify its sources of financing,” are expected to help finance this expansion strategy.