TWO DIVERGENT READINGS OF BGFI BANK! DEUX LECTURES DIVERGENTES DE LA BGFI BANK!

 





English version 


The contrast between Jeune Afrique and Africa Intelligence in their coverage of the highly controversial BGFI Bank is quite striking.


Jeune Afrique mainly covers BGFI through the lens of its supposed performance: its annual ranking regularly puts the group at the top of CEMAC banks. That is also the current tone. The IPO on May 7, 2026 raised more than 45 billion CFA francs from 7,601 investors, and a second phase, running from September 15 to October 15, 2026, aims to raise the free float to 10%, up from 3.85% today.


Africa Intelligence, by contrast, looks behind the scenes at shareholding, politics and governance. In late 2024, the newsletter reported that a letter from presidential adviser Pierre Duro demanded that Delta Synergie hand over its 9.91% stake in the holding company to the State, and that CBON was considering appointing Oyima as a minister, a disguised form of ousting. That is partly what happened: Oyima was appointed Minister of State for the Economy and Finance in 2025. His time in government was short-lived, however. Oyima is once again solely the group's CEO. His return deserves to be explained.




Version française 


Le contraste est assez saisissant entre les deux publications que sont Jeune Afrique et Africa Intelligence au sujet de la très controversée BGFI Bank.


Jeune Afrique traite surtout BGFI sous l'angle de ses supposées performances: son classement annuel place régulièrement le groupe en tête des banques de la CEMAC. C'est aussi le ton du moment : l'introduction en Bourse du 7 mai 2026 a levé plus de 45 milliards FCFA auprès de 7 601 investisseurs, et une deuxième phase, du 15 septembre au 15 octobre 2026, vise à porter le flottant à 10 %, contre 3,85 % aujourd'hui.


Africa Intelligence regarde plutôt les coulisses : actionnariat, politique, gouvernance. Fin 2024, le journal rapportait qu'un courrier du conseiller présidentiel Pierre Duro exigeait de Delta Synergie qu'elle cède à l'État ses 9,91 % dans la holding, et que CBON envisageait de nommer Oyima ministre, une forme d'éviction déguisée. Ce qui est en partie arrivé : Oyima a été nommé ministre d'État chargé de l'Économie et des Finances en 2025. Pourtant, ce ne fut que de courte durée. Oyima est de nouveau uniquement PDG du groupe. Ce retour mériterait d'être éclairci.


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