Central African banking group BGFI Holding Corporation plans to launch a new capital increase in the third quarter of 2026 aimed at raising about 81 billion CFA francs (US$143.6 million), following its landmark stock market listing earlier this year, a source close to the matter said Friday.
The fundraising operation, announced after the group’s ordinary and extraordinary general meeting, forms part of a broader strategy to expand the bank’s shareholder base and comply with regional stock exchange requirements.
The amount represents the remaining portion of the capital-raising target outlined in the prospectus approved by regulators ahead of the group’s initial public offering earlier this year.
The move is intended to increase the company’s free float the proportion of shares publicly available for trading from 3.85 percent to 10 percent, the minimum level required under the rules of the Central African Securities Exchange (BVMAC).
The BVMAC serves the six-member Central African Economic and Monetary Community (CEMAC), which includes Gabon, Cameroon, Chad, Congo, Equatorial Guinea and the Central African Republic.
BGFI Holding Corporation, the parent company of BGFIBank, completed its initial public offering on March 2, 2026, raising 45.3 billion CFA francs.
While the operation fell short of its original target of 125.9 billion CFA francs, it attracted strong participation from regional and international investors and marked one of the most significant capital market operations in Central Africa in recent years.
According to figures released by the group, the IPO attracted 7,601 investors from 24 countries, highlighting growing interest in the region’s financial markets.
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Gabonese investors accounted for the largest share of subscriptions, contributing more than 22 billion CFA francs, or nearly half of the total amount raised.
Cameroon emerged as the second-largest contributor, with investors subscribing 12.7 billion CFA francs, representing 28.1 percent of the total funds collected.
The participation of investors from across Africa and beyond was seen by market analysts as a sign of the gradual broadening of the investor base in the CEMAC region, where financial markets remain relatively small compared with other African regional blocs.
On May 7, several weeks after the IPO closed, BGFI Holding Corporation officially listed on the BVMAC, becoming the largest listed company on the regional exchange by market capitalization.
The listing was widely viewed as a milestone for the Central African financial market, which authorities have been seeking to deepen in order to improve access to long-term financing for companies and governments.
BGFI Holding’s financial performance remained strong through 2025, supporting investor appetite for the stock.
The group reported consolidated assets of 7,428 billion CFA francs at the end of December 2025, representing a 25 percent increase compared with the previous year.
Customer deposits rose 10 percent year on year to 4,263 billion CFA francs, while consolidated net profit climbed 9 percent to 133 billion CFA francs.
The banking group has continued expanding its operations across Central and West Africa in recent years, benefiting from growing regional trade, infrastructure investment and increased banking penetration.
Analysts say the planned capital increase could provide BGFI with additional resources to finance regional growth while also helping strengthen liquidity on the BVMAC.
The operation is also expected to support efforts by regional authorities to make Central Africa’s financial markets more attractive to institutional and retail investors.
Despite recent progress, trading volumes and market participation on the BVMAC remain limited compared with larger African exchanges such as those in Johannesburg, Casablanca and Lagos.
Regional policymakers hope high-profile listings such as BGFI’s will encourage more companies to raise capital through public markets rather than relying primarily on bank financing.
