BMCE Bank of Africa

North Africa,Africa Financial services

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

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

We developed environmental, social and business integrity action plans in partnership with the bank. We have also helped to initiate an environmental, social and governance (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.

Africa, North Africa

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.


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