The Togolese government announced this Wednesday, August 11, that it had adopted a draft decree setting the terms and the price for the sale of part of the State’s shares in the share capital of the Togolese Bank for Commerce and Industry ( BTCI), one of the two public banks still on the market.
“In its desire to forge partnerships with the private sector to accelerate economic growth, the government has initiated a process of selling part of its shares in the share capital of the Togolese Bank for Trade and Industry. It is in this context that, in accordance with legal provisions, a privatization evaluation commission (COMEP) has been set up to carry out the evaluation of the said company, to give its opinion on the proposed sale and to propose the right price ”, informs an official press release.
This decree, continues the same source, allows the continuation of the process of transfer of part of the shares held by the State to the Togolese company of IB Holding, an entity of the IB Holding group belonging to the Burkinabé Mahamadou Bonkoungou.
According to the government, this company was selected from the 5 bidders following the call for tenders opened for this purpose.
Ultimately, the government will retain 10% of the bank’s capital. And only the Togolese Banking Union (UTB) will remain in the bosom of the state, out of the 4 that had been on sale for almost 10 years.
