At the press conference for the presentation of first-half results — in which the public bank reported profits of €893 million — CEO Paulo Macedo stated that the sale only depends on a decision by the Bank of Cape Verde. Caixa Geral de Depósitos (CGD) expects to sell Banco Comercial do Atlântico (BCA), which it owns in Cape Verde, in the near future, pending the regulator’s response. Meanwhile, there are also interested parties regarding its operations in Brazil.
During the press conference, Paulo Macedo said:
“The Bank of Cape Verde said it would give its response shortly, so it doesn’t depend on us. We believe it will happen soon.”
In March 2024, CGD announced the sale of its majority stake (59.81% of BCA’s share capital) to Coris Holdings, based in Burkina Faso. The sale, for €70.5 million, is subject to Cape Verdean legal formalities, particularly an opinion from the archipelago’s central bank.
In April, the governor of the Bank of Cape Verde said the review process was “in its final stages” and that a decision was expected “by mid-May,” stating that the central bank was complying with all legally required deadlines.
No decision has yet been announced. The sale is part of CGD’s plan to reorganize its international operations. The group will remain in Cape Verde through Banco Interatlântico.
Another topic addressed was the sale of CGD’s stake in Banco Caixa Geral – Brazil. According to Paulo Macedo, there has been a renewed interest from entities:
“We once again have interested parties, and we would like to restart the process which, as you know, involves a number of procedural steps before talks with potential buyers can begin,” he said, as quoted by Lusa.
Source: Forbes África Lusófona
