CAMEROON: ORAGROUP ANNOUNCES THE SIGNING OF A TECHNICAL ASSISTANCE AGREEMENT WITH CREDIT COMMUNAUTAIRE D’AFRIQUE
ORAGROUP SA, the holding company of Orabank Group, announces the signature of a technical assistance agreement with Crédit Communautaire d'Afrique (CCA), a former Cameroonian microfinance institution which recently turned into the country's 15th operating bank. The memorandum signed between the two parties defines the conditions under which ORAGROUP will undertake various technical assistance services intended to participate in CCA’s organisation and development.
ORAGROUP will provide CCA with recurring services in key areas of its development. Occasional services will also be made available, such as staff recruitment, network development assistance, internal audit missions and project management support.
This agreement comes in just a few weeks after CCA obtained, on June 11th 2018, the authorization from Cameroon’s Ministry of Finance to become a universal bank, and a year after having obtained the assent of the Central African Banking Commission (COBAC) in 2017. CCA SA, which became CCA-BANK SA, has a share capital of CFA francs 10 billion, currently being increased to CFA francs 15 billion, and 42 branches spread over the country's ten regions.
Binta Toure Ndoye, Managing Director of ORAGROUP, commented:
“This new partnership meets our ambition to build a leading banking group. We want to provide our customers with tailor-made products that meet the highest international standards. Given CCA's performances and the extent of its territorial network, we are confident that this partnership will open up new development perspectives for us in Cameroon.”
For Charlotte Kouecheu, Managing Director of CCA:
“It is important for us to benefit from an efficient and modern technical assistance provided by a leading pan-African banking group such as ORAGROUP at this key moment in our development. We are already serving over 450,000 customers, but it is time for us to evolve towards an even stronger structure, and expand our business with the support of partners like ORAGROUP.”
ORAGROUP operates in 12 countries in West and Central Africa (Benin, Burkina, Chad, Côte d'Ivoire, Gabon, Guinea Conakry, Guinea Bissau, Mali, Mauritania, Niger, Senegal, Togo) and in four monetary zones (WAEMU, CEMAC, Guinea Conakry, Mauritania). With 149 banking agencies and 1,811 employees, Oragroup offers a broad range of banking products and services to just over 430,000 customers (large companies, national and international, SMEs and individuals), based on proximity and responsiveness principles.
Working towards financial inclusion through the deployment of innovative solutions, ORAGROUP focuses on segments of the population that are usually neglected. This commitment is reflected in its CSR approach, which is centered around energy transition, environmental and social risk management, but also the well-being of the public and the Group’s employees. It is an integral part of the Group’s strategy, and a priority for its management.
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Oragroup - Communications Director
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Created in 1997, Crédit Communautaire d'Afrique (CCA) is now a bank (CCA-BANK SA) headquartered in Yaoundé, Cameroon. CCA-BANK is a limited company with a Board of Directors with CFA francs 10,000,000,000 of share capital, and operating under the slogan "finance at the heart of African traditions". To date, the group has 42 branches spread across the ten regions of Cameroon