BMCE Bank of Africa

Africa FInancial services

BMCE is a Pan-African bank serving over 20 countries on the continent.

Our investment

CDC has formed a partnership with the pan-African bank to deepen penetration of banking services and promote financial inclusion for all. CDC believes that investing in financial institutions is a powerful mechanism through which CDC can deliver impact at scale.

Expected impact

This investment aims to form a long-term partnership between CDC and BMCE, with the ambition of contributing to the economic development of Africa. It is head quartered in Morocco and reaches some of Africa's most challenged countries such as Burkina Faso and Madagascar. Banking penetration and access to finance in the majority of BMCE's operating countries, such as in Benin and Niger, remains disproportionately low. Restricted access to finance stifles the prosperity of families, communities and economies in Africa.

Environmental and social aspects

In addition to providing primary capital, CDC developed Business Integrity and E&S action plans in partnership with the Bank and has helped to initiate an ESG committee at the Bank that guides ESG strategy and practice.

Key facts


Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.


We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

Financial services
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

Direct Equity
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

June 2019

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.


This is the investee company’s place of incorporation; or a fund’s jurisdiction.