Bridge Bank Group opens $118M IPO on West Africa's BRVM
What's the deal? Bridge Bank Group Côte d'Ivoire launched its initial public offering on the BRVM exchange on July 6, offering 10 million shares — 20% of its capital — at 6,750 CFA francs each. The offering totals 67.5 billion CFA francs, or roughly $118 million.
Why now? Managing director Ehouman Kassi cited three drivers: Côte d'Ivoire's projected GDP growth of around 7%, the BRVM's 25% rise in 2025, and the bank's own expansion plans. He called the listing "historic," noting the last Ivorian bank to join the exchange did so in 2017.
By the numbers: The bank's fundamentals have strengthened since the deal was announced. First-quarter 2026 net banking income reached 16 billion CFA francs, up 23% year on year, while net profit hit 8 billion CFA francs, up 48%.
Management has also outlined a dividend policy targeting up to 65% of future earnings over five years, pointing to an annual return of 28% to 29%.
Who's involved? The offering, cleared by the Financial Markets Authority of the West African Monetary Union in late June, runs from July 20 to August 21, 2026. Afterward, controlling shareholder Bridge Group West Africa — the Teyliom Group's financial holding — will see its stake fall from 77% to 57%. The Caisse Nationale de Prévoyance SocialeDealroom has a profile for this one. Try Dealroom → keeps its 20%, with a 20% free float and 3% for individual shareholders. Group subsidiary Bridge Securities is leading the deal.
What's the endgame? Proceeds are earmarked for regional expansion, already underway in Côte d'Ivoire, Senegal, and Mali, with entry into Guinea targeted by 2027. The bank also plans to fund its digital transformation.
The signal: If completed, the deal makes Bridge Bank Group the sixteenth listed bank and forty-eighth listed company on the BRVM. It underscores how rare IPOs remain on the regional exchange, where the last major banking listing was Benin's in April 2025.
Read more: African Markets
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