Ahmed Cissé secures majority control of Côte d’Ivoire’s BICICI after landmark deal

The ownership structure of the Banque internationale pour le commerce et l’industrie de Côte d’Ivoire (BICICI) has undergone a significant transformation. Three years after BNP Paribas exited and the bank transitioned to Ivorian hands, the Banque nationale d’investissement (BNI) finalized an agreement on July 13 to divest its entire stake in the financial institution.

Under the terms of the deal, Brandon & Mcain Capital—led by prominent Ivorian businessman Ahmed Cissé—acquired the 21.09% equity and voting rights previously held by BNI. Pending approval from the Commission bancaire de l’UMOA, this acquisition will elevate Ahmed Cissé’s total stake to 40.2%, up from his current 19.11% holding, effectively making him the premier actionnaire (top shareholder) of Côte d’Ivoire’s second-largest banking group.

This strategic move marks another milestone in the Ivorian banking sector‘s ongoing evolution, following the earlier shift away from foreign ownership. The transaction underscores the growing influence of domestic investors in shaping the country’s financial landscape.

Ahmed Cissé, who also serves as President of Côte d’Ivoire’s Conseil du patronat (CGECI), has been a key figure in driving private sector growth and economic reforms in the country. His expanded stake in BICICI reflects confidence in the bank’s long-term potential and aligns with broader efforts to strengthen local participation in strategic economic sectors.

The approval process by the regional banking authority is expected to conclude in the coming months, after which the official transfer of shares will take effect.