Bank of Africa increases control of Uganda subsidiary BOA
The shareholding in the Ugandan subsidiary rises slightly while voting rights soar.
25/07/2022 at 18h33, by Africa Business+
The third largest Moroccan bank opted for Uganda as part of its African expansion strategy beyond Francophone West Africa. Since acquiring an initial 47% stake in Bank of Africa Uganda in 2010 for MAD137 million (€13.2 million), Bank of Africa held 78.6% in 2020.
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