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ORAGROUP SA, holding company of the Orabank Group, announces the signing of a technical assistance agreement with the African Community Credit (CCA), a former Cameroonian microfinance institution that has recently become the 15th largest bank in the country. The Memorandum of Understanding signed between the two parties lays down the terms and conditions under which ORAGROUP will assume, for the benefit of CCA, various technical assistance services intended to participate in its organization and development.
ORAGROUP shall provide CCA with recurring services in key areas of its development. One-off services will also be set up, such as staff recruitment, network development assistance, internal audit missions and project management support.
This agreement comes as CCA has just obtained on 11 June 2018 the authorization of the Ministry of Finance of Cameroon to become a universal bank, after having obtained the assent of the Banking Commission of Central Africa (COBAC) in 2017. CCA SA which becomes CCA -BANK SA has a registered capital of 10 billion CFA francs, which is increasing to 15 billion CFA francs, and 42 branches in the ten regions of the country.
Binta Toure Ndoye, General Manager from 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 the performance of CCA and the extent of its territorial coverage, we are certain that this partnership will open up new prospects for development in Cameroon.
Charlotte Kouecheu, Managing Director of CCA: "It is important for us to have efficient and modern technical assistance from a leading pan-African banking group such as ORAGROUP at this pivotal moment in our development. We already serve more than 450,000 customers, but it is time for us to migrate to an even stronger structure and expand our business with the support of partners like ORAGROUP.
ORAGROUP is present in 12 countries of West and Central Africa (Benin, Burkina Faso, Ivory Coast, Gabon, Guinea Conakry, Guinea Bissau, Mali, Mauritania, Niger, Senegal, Chad, Togo) and in four monetary zones (UEMOA, CEMAC, Guinea Conakry, Mauritania). With 149 bank branches and 1,811 employees, Oragroup offers a little more than 430,000 customers (large companies, national and international, SMEs and individuals) a wide range of banking products and services based on proximity and responsiveness. to financial inclusion through the deployment of innovative solutions, ORAGROUP focuses on previously neglected segments of the population. This commitment is reflected in its CSR approach which is an integral part of its strategy and is a priority of its governing bodies, focused on energy transition, environmental and social risk management, and the well-being of the public and its employees. Its shareholding includes leading institutions such as ECP, Proparco, DEG, BIO, BOAD, EBID and the Gabonese Strategic Investment Fund.
For more information, please visit www.orabank.net or follow us on LinkedIn, @GroupeOrabank on Twitter, Facebook, Instagram, Google+, You Tube.
About CCA
Created in 1997, Crédit Communautaire d'Afrique (CCA) is now a bank (CCA-BANK SA) headquartered in Yaoundé, Cameroon. CCA-BANK is a Société Anonyme with a Board of Directors with a registered capital of 10,000,000 CFA francs with the slogan "finance at the heart of African traditions". To date, the group has 42 agencies in the ten regions of Cameroon.
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