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Bridge Bank Group Côte d’Ivoire signs financing agreement with private equity fund manager AFIG Funds for a leveraged buyout (LBO)

25 April 2023
ABIDJAN, March 22, 2023 - Bridge Bank Group Côte d'Ivoire ("BBG-CI" or the "Bank"), a public limited company with a Board of Directors and a capital of FCFA twelve billion five hundred million (12,500,000,000), today announced the signing of an agreement for the financing o...

ABIDJAN, March 22, 2023 – Bridge Bank Group Côte d’Ivoire (“BBG-CI” or the “Bank”), a public limited company with a Board of Directors and a capital of FCFA twelve billion five hundred million (12,500,000,000), today announced the signing of an agreement for the financing of the takeover of a leading packaging company in Côte d’Ivoire, by a consortium of investors led by Advanced Finance and Investment Group (“AFIG Funds”), a leading African private equity fund manager.

The objective of AFIG Funds and its consortium partners is to acquire and develop an already leading manufacturing company in Côte d’Ivoire with the intention of deploying an ambitious strategic plan to drive local and regional growth.

AFIG Funds has secured all the funds for this acquisition through equity and bank debt arranged by the Bridge Group with other financial partners.

Mr Ehouman Kassi, Managing Director of Bridge Bank Group CI said:

“We are very pleased to have been involved in this innovative transaction, both in terms of its structure and the nature of the parties involved. It will be one of the first major LBOs in our region.

The completion of the acquisition, and the disbursement of the bank financing in particular, are subject to the usual closing conditions for this type of transaction and is expected to be completed in the second quarter of this year.

I am proud that our teams have been able to structure a financing product that is suitable for a still developing legal and regulatory framework for corporate acquisition financing. The success of this transaction will have required close collaboration and perseverance on the part of all parties involved to create the creative framework necessary for a final structuring acceptable to all.

In addition, the quality of our decades-long relationship with the management of AFIG Funds and the mutual trust between us were key to the successful completion of this transaction.”

Mr. Papa Madiaw Ndiaye, Managing Director of AFIG Funds, said:

“We are delighted with this proposed acquisition of Target, which represents a landmark transaction in French-speaking West Africa and hope that it will pave the way for many other successful LBOs in our region.

We are therefore proud to continue to make our modest contribution to the transformation of the regional financial system.

This project would not have been possible without the support and patience of our investors, nor the trust and openness of the vendors with whom we have been privileged to develop a strong relationship over the past years.

We look forward to beginning to implement our strategic vision for the next phase of the company’s growth as an important contribution to Africa’s development.”

 

The following actors contributed significantly to the signing of this agreement:

  • Ernst & Young Côte d’Ivoire, financial advisor to AFIG Funds and its co-investors in connection with the financial review and due diligence of the company
  • KeysFinance Partners Limited, financial advisor to the seller, in connection with this transaction
  • ASAFO & Co, legal advisor to AFIG Funds

 

About AFIG Funds (www.afigfunds.com)

Advanced Finance & Investment Group (“AFIG Funds”) is a leading investment fund management company that manages two funds, Atlantic Coast Regional Fund and AFIG Fund II. AFIG Funds makes growth equity investments in various sectors in West, Central and East Africa. AFIG Funds is registered in Mauritius and has its headquarters in Dakar, Senegal.

 

About Bridge Bank Group Côte d’Ivoire (www.bridgebankgroup.com)

BBG CI started operations in Côte d’Ivoire in 2006 as an SME-focused bank and has since expanded to serve large local private and public sector companies, financial institutions, and the middle and upper class in consumer banking. BBG CI is in the process of revamping its business model towards a new customer and product niche, supported by a compelling customer service, equity base and strengthened governance. Its main objective has always been customer satisfaction through innovative and tailor-made products and services, for which it has been named the best bank in Côte d’Ivoire for customer service for four consecutive years and the best bank in Côte d’Ivoire by Global Finance Magazine three years in a row. Today, the Bridge Group offers, in addition to banking products and services through banks in Côte d’Ivoire and Senegal, brokerage and structured finance products (Bridge Securities), Asset Management (Bridge Asset Management) and financing of the informal sector and meso-finance (Bridge Micro-finance)

 

About d’ASAFO & Co. (www.asafoandco.com)

ASAFO & Co. is an international law firm, offering a unique and integrated range of legal services in relation to the African continent. With experienced teams on the ground in the main hubs of the African continent and a unique pan-African coverage, ASAFO & Co. is positioned as the leading international law firm dedicated to Africa. Our teams work on large-scale and complex legal transactions in a wide range of industry sectors such as energy (conventional and renewable), infrastructure, natural resources, telecommunications, and financial services. ASAFO & Co. regularly advises governments, states, private investors, developers, commercial and development banks, development finance institutions and investment funds.

 

About KeysFinance Partners (www.keysfinance.com)

Founded in 2014 with the support of African investors, KeysFinance Partners is a leading investment bank and corporate finance advisor specialising in sub-Saharan Africa. Drawing on a team of experienced finance professionals, the firm provides top-notch M&A, strategic advisory, capital restructuring, and fundraising services to international and regional shareholders, institutions, governments, and individual investors. KeysFinance Partners is headquartered in Mauritius and has a main office in Abidjan.

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BRIDGE BANK GROUP CI – BEST BANK 2023

04 April 2023
BRIDGE BANK GROUP Côte d'Ivoire " BBG CI " subsidiary of Teyliom Group is once again, recognized Best Bank of Côte d'Ivoire in 2023 by the American economic magazine, Global Finance, in its 30th edition of Best Bank Awards. As a reminder, BBG CI receives this distinction for the third consecuti...

BRIDGE BANK GROUP Côte d’Ivoire ” BBG CI ” subsidiary of Teyliom Group is once again, recognized Best Bank of Côte d’Ivoire in 2023 by the American economic magazine, Global Finance, in its 30th edition of Best Bank Awards.

As a reminder, BBG CI receives this distinction for the third consecutive year. This “Best Bank” award recognizes BBG CI’s daily efforts, tailored expertise, dedication and commitment of human capital to continuously improve the customer experience.

It also confirms the disciplined execution of its strategic plan “2020-2026” to transform the Bank, already materializing, compared to 2019, by doubling the balance sheet, revenues, number of customers as well as tripling the net income in 3 years.

The transformation of BBG CI is also :

-A successful and profitable expansion in Senegal from the first year of operations;

-A rebranding reinforcing the identity and the vision;

-A matrix organization necessary to evolve into a banking group;

-A digitalization and electronic banking program supported by a new core banking system;

-A commitment to contribute to sustainable development issues through a CSR approach.

These successes have enabled BBG CI to cross the FCFA 900 billion mark in total assets in the two countries where it is established and augur a bright future for an institution whose ambition has no limit but the sky.

BBG CI is committed to continue the execution of its strategic plan with success and thanks its customers and partners for their unceasingly renewed confidence.

Teyliom Group reintroduces its sincere congratulations to the General Manager Mr. KASSI as well as to all his staff for this umpteenth reward.

 

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Radisson Blu Hotel Dakar – Sea Plaza: the best places in the world to visit by TIME

21 March 2023
It is with great pride and joy that we announce that the Radisson Blu Dakar Sea Plaza, a subsidiary of Teyliom Group, has been selected by TIME as one of the world's best places to visit in 2023. Published in its annual travel guide, Worl...

It is with great pride and joy that we announce that the Radisson Blu Dakar Sea Plaza, a subsidiary of Teyliom Group, has been selected by TIME as one of the world’s best places to visit in 2023.

Published in its annual travel guide, World’s Greatest Places, based on nominations from editors and experts around the world, TIME recognizes establishments in 50 destinations (including countries, cities, and national parks) that offer visitors a unique and extraordinary experience.
What an important milestone in our quest for excellence!

This is an opportunity for us to congratulate General Manager Helvire A. Boissy and the wonderful team at the Radisson Blu Hotel Dakar Sea Plaza!
Whether you are a resident of Dakar or just passing through, do not hesitate to discover this wonderful establishment.
Click here https://bit.ly/3n5mGDi to read the TIME article.

 

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Exceptional real estate projects in Cote d’Ivoire

03 February 2023
For over 20 years, Teyliom Group has been committed to contributing to the development of Africa by providing innovative products and services tailored to the needs of its customer segments. Operating in several sectors, real estate via Teyliom Properties, occupies a prominent plac...

For over 20 years, Teyliom Group has been committed to contributing to the development of Africa by providing innovative products and services tailored to the needs of its customer segments.
Operating in several sectors, real estate via Teyliom Properties, occupies a prominent place in the Group’s strategy with several large-scale projects on the continent in general with a focus on Côte d’Ivoire.
In the special issue of Cote d’Ivoire of “Ensuite un hors-série Afrique Magazine” of January 2023 available here https://bit.ly/3kUWie7, the Managing Director of Teyliom Properties Côte d’Ivoire, Mr. Rotimi VIEYRA shares his vision of real estate in general. He also explains the orientation of the subsidiary with exceptional projects adapted to the requirements generated by the transformation of the Ivorian economic capital.
Projects such as Waterfront_CI and Akwaba Business Park (the city of the future in the airport zone) that we invite you to discover.

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NEW CINEMA IN DAKAR : The “SEANEMA”

02 December 2022
Teyliom Group has to its credit a state-of-the-art cinema complex, the "Seanema du Sea Plaza" in Dakar-Senegal, open to the public since November 11. The Seanema was inaugurated on November 10, 2022 in the presence of the Ministers of Culture and Civil Protection o...

Teyliom Group has to its credit a state-of-the-art cinema complex, the “Seanema du Sea Plaza” in Dakar-Senegal, open to the public since November 11.
The Seanema was inaugurated on November 10, 2022 in the presence of the Ministers of Culture and Civil Protection of Senegal, as well as Mr. Moussa SENE ABSA, famous director of the film XALE chosen by the National Selection Committee of the Oscars to represent Senegal at the 95ᵉ Oscars ceremony scheduled for March 2023 in Los Angeles (USA).
With a capacity of over 700 seats and the Seanema cinema complex has within it:
– 3 multipurpose rooms that can host not only movie screenings, but also events such as: conference, team building, show, etc…
– A VIP lounge
– A restaurant area
– A game room (laser game)
Looking forward to seeing you very soon.

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MANGALIS HOTEL GROUP CELEBRATES 10 YEARS

06 October 2022
It's been 10 years since Mangalis Hotel Group, a part of Teyliom Group, started to rewrite history! 10 years, it is the age of carefree and authorized dreams. Mangalis is a young group that has a whole life ahead of it, and dreams full of head. Young it is true, but also ambitious and experienc...

It’s been 10 years since Mangalis Hotel Group, a part of Teyliom Group, started to rewrite history!
10 years, it is the age of carefree and authorized dreams.
Mangalis is a young group that has a whole life ahead of it, and dreams full of head.

Young it is true, but also ambitious and experienced.
Whether it is our teams or our managers, who all have great careers in the hotel industry. They were trained in great houses and joined us to build, and especially to live, a new way of doing the African hotel business.

Our hotels Noom, Seen and Yaas reflect this vision: to become the reference in the hotel industry in Africa. All these brands aim to bring a new breath to the hotel industry by adopting an exemplary rigor to guarantee an unforgettable customer experience.
Our corporate culture is based on deep human values, constant innovation and social responsibility.
From Niamey to Conakry, from Dakar to Abidjan, all our teams are mobilized to offer exceptional stays, whether for our economy or high-end offers, while maintaining the same rigor.

This celebration could not be done without thanking our great teams, thanks to whom our clients’ stays remain memorable.

We would like to extend a huge thank you to all the employees of Noom, Seen and Yaas hotels and to all our customers, you are at home!

Thank you all for these 10 years together and let’s go for the next challenges!

 

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AFRICARIBBEAN TRADE AND INVESTMENT FORUM 2022

07 September 2022
From September 1st to september 3rd 2022, the first edition of "AfriCaribbean Trade and Investment Forum 2022 " took place in Barbados under the theme: One people.One destiny. Uniting and re-imagining our future. This first edition brough...

From September 1st to september 3rd 2022, the first edition of “AfriCaribbean Trade and Investment Forum 2022 ” took place in Barbados under the theme: One people.One destiny. Uniting and re-imagining our future.
This first edition brought together more than 2000 participants from 99 countries. It aimed to strengthen relations between the private sectors of both regions (Africa and the Caribbean) in order to advance trade and investment.
This was a perfect opportunity to engage in discussions on business-to-business engagements as well as several topics, including:
-accelerating industrialization and manufacturing;
-developing special economic zones (SEZs) and industrial parks;
-improving infrastructure, financing and trade logistics, including regional integration;
-creating the conditions to accelerate private sector investment;
-promoting trade and tourism;
-improving agricultural productivity and expanding agribusiness opportunities and food security.
An enriching forum in which Teyliom Group through its Chairman and CEO Mr. Yerim SOW took pleasure in participating.
Together, let’s contribute to the development of Africa by providing innovative products and services tailored to fit needs of customer segments.

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THE ONE DAKAR NOMINATED FOR THE WORLD ARCHITECTURE FESTIVAL

30 August 2022
We are pleased to announce the selection of one of our projects, "The One" Dakar as a finalist in the category "Future Projects" of the World Architecture Festival. We are pleased to announce the selection of one of our projects, "The One" Dakar, as a finalist in the "Future Projects" category of t...

We are pleased to announce the selection of one of our projects, “The One” Dakar as a finalist in the category “Future Projects” of the World Architecture Festival.
We are pleased to announce the selection of one of our projects, “The One” Dakar, as a finalist in the “Future Projects” category of the World Architecture Festival (WAF) 2022, to be held from 30 November to 2 December 2022 in Lisbon.
Now in its 15th edition, WAF is the world’s largest architecture event, combining awards, seminars and networking.
WAF 2022 will feature 495 architecture firms from around the world competing for awards in the three categories. Click here to find out more: https://bit.ly/3AfSvgG
As a reminder, “The One” is a luxury residential complex based in Dakar, piloted by the international architecture firm SAOTA on behalf of Teyliom Properties.

To find out more about “The One” Dakar, your future luxury complex, contact us at
+221 33 829 62 49 / +221 33 829 62 59.

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