Finances: Coris Bank International finances Orange Niger’s investment plan to the tune of FCFA 31 billion

Coris Bank International (CBI) and the telecommunications company Orange Niger initialed, on Thursday August 27, 2020 in Niamey, an agreement through which the banking group will finance the telecom operator’s 2020 investment plan through a loan of ” an amount of FCFA 31 billion for the modernization of its network. The operation, which is part of Orange Niger’s growth strategy for the coming years, is also in line with the positioning of Coris Bank International. Present on the Nigerien financial market for barely a year, the CBI group is already very active in terms of large-scale structured support and innovation at the service of its clients and partners. A commitment which has just been reinforced by the “Prize for the best bank in West Africa” awarded to the pan-African group on August 26 during the 2020 edition of the prestigious African Banker Trophies.

The agreement was recorded during a solemn ceremony by the Managing Director of Coris Bank International Niger, Ms. Rakiatou Idé Issaka, and the Managing Director of Orange Niger, Mr. Souleymane Diallo, in the presence of executives from both companies. The funds raised by the Telecom operator Orange Niger from Coris Bank International (CBI) will be used to finance Orange Niger’s investment plan for fiscal year 2020, in particular, the acquisition of the 4G license, the modernization and the extension of the network and the deployment of 4G and 4G + technologies. With this ambitious modernization program, Orange Niger is thus decisively strengthening its connectivity and network coverage, while putting the first 4G + network in Niger into service by the end of 2020. This is why the CEO Orange Niger did not hide its satisfaction with the signing of this agreement which is fully in line with the operator’s growth strategy for the coming years.

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“We are very happy and proud to have been able to conclude such an important financing agreement with Coris Bank International. This once again reflects the strength of our recovery plan put in place since the takeover of Orange Niger by Zamani Com SAS in November 2019, and which is already reflected in significant growth in all our indicators. Our objective is clear, we want to be the digital operator of reference in Niger, and this requires upgrading our network with the latest technologies ”. Mr. Souleymane Diallo, Managing Director of Orange Niger.

The operation is also in phase with the positioning of Coris Bank International, present on the local financial market for barely a year and which is already very active in large-scale structured support and innovation at the service of its customers and partners. , as announced on this occasion by the Director-General, Ms. Rakiatou Idé Issaka.

“In a context where the telecoms sector is experiencing strong technological developments with significant development challenges, this strategic partnership with our bank, Coris Bank International, will allow us to strengthen the relationship of trust and consolidate the local commercial dynamic. Our ambitions for Niger are strong and they cover the short and medium term extension of the distribution network; commitment to the digital transformation of processes, products and services; the launch of the Islamic branch; subsidiary and ISO 9001 version 2015 certification of the Quality Management System ”. Ms. Rakiatou Idé Issaka, Managing Director of Coris Bank International Niger (CBI Niger).

Coris Bank International, an integrated group serving Africa

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Coris Bank International Succursale du Niger is an entity of the Coris Group, with which it shares a solid financial base, diversified know-how capital and modern expertise tools. Ranked 7th Banking Group in the sub-region by the WAMU Banking Commission in its 2018 report, the Group is present in the banking market with a strong vision of actively participating in the socio-economic development of African countries. Coris Bank International (CBI) thus invests in the development and development of the populations of the countries in which it operates through the support of various projects. The Pan-African banking and financial group, whose capital is held by a majority shareholder base from UEMOA, is today present in seven countries of the Union and will soon launch its activities in Guinea Conakry. Its fields of intervention are diversified and are structured around two umbrella organizations: CORIS HOLDING SA and CORIS INVEST GROUP.

CORIS HOLDING SA is the financial company approved by the Banking Commission of UMOA, which supervises the banking divisions (seven banks which are CBI Benin, CBI Burkina Faso, CBI Côte d’Ivoire, CBI Mali, CBI Branch of Niger, CBI Senegal , CBI Togo and soon CBI Guinea Conakry); Islamic Finance (six Coris Bank International BARAKA Branches) and Mésofinance (Coris Mésofinance). CORIS INVEST GROUP for its part oversees the financial division which includes Insurance (Coris Assurance IARD and Coris Assurance Vie); Financial intermediation (Coris Bourse); Asset management (Coris Asset Management); the Service Intermediary (IDS) as well as Investment and Consulting (Coris Capital).

Coris Bank International named best bank in West Africa in 2020

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It is on the strength of this commitment, which reinforces the bank in its slogan of “doing banking differently”, that the CBI group was distinguished on August 26, 2020 with the “Prize for the best bank in West Africa” during the 2020 edition of the prestigious African Banker Trophies. The “African Banker Trophies” which are held each year on the sidelines of the Annual Meetings of the African Development Bank (AfDB) group, are considered the Oscars of the African banking community and are the most respected in this sector. Beyond its symbolic scope, this distinction rewards the efforts of the group based in Ouagadougou in Burkina Faso to support the development of Africa as evidenced by this large-scale operation for the benefit of a private Nigerian company and especially in a strategic sector for the national economy.

A.K.M

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