The Senegalese businessman Baba Diaw, the West African hydrocarbon magnate, officially launched 22 January 2018 at the launch of 25, the banking institution of the Dakar financial center.
The Bustard Bank has an initial capital of 14
billions of francs. The new financial institution installed in Senegal. It will be added to the list of 24 financial institutions in the Dakar square that share the national market.
According to the BCEAO, the approval was finally granted to Abdoulaye Baba Diaw, magnate of the strategic hydrocarbon sector and owner of the trading company International Trade and commodities (ITOC).
The armor and logo of the bank have been approved. The businessman controls the nerve wave of the purchase and marketing of hydrocarbons in Senegal.
Renowned for its legendary discretion, Senegalese billionaire Abdoulaye Baba Diaw, majority shareholder and Chairman of the Board of Directors (PCA) Outarde, has opened the capital to other private Senegalese and West African Development Bank (BOAD) .
However, the BCEAO took care to ask beforehand a light on the financial arrangement of the new financial institution. The Professional Association of Banks and Financial Institutions of Senegal (APBEFS) welcomed the start of the activities of this
new member of the national banking landscape.
Bustard, named after a duck, protected bird, was created in the form of a public limited company (SA), which is located on the boulevard de la République in the heart of the Senegalese capital.
BNP PARIBAS, the French Olivier SANTI, will be the first General Manager. Start-up will be a merchant bank with targeted sectors of SMEs and the primary sector.
