Vista Group Acquires Oragroup With $140 Million Financing From Afreximbank

Simon Tiemtore pose with Anayo Awani

Vista Group, a pan-African financial services company, has announced the acquisition of Oragroup, a West African banking group, with a $140 million financing from the African Export-Import Bank (Afreximbank). The deal, which was signed at the Intra-African Trade Fair 2023 in Cairo, Egypt, is expected to reshape the continent’s financial landscape and create a leading regional banking institution.

Oragroup operates in 12 countries across four regions in West and Central Africa, with 156 branches and more than 2,000 employees. The group has a total balance sheet of $2.8 billion and a net banking income of $249 million as of December 2020. The acquisition will enable Vista Group to expand its footprint and offer a wider range of products and services to its customers.

"Mr. Tiemtore acknowledged  that the acquisition is a game-changing endeavor that will create value for all stakeholders, and that Vista Group is grateful to Afreximbank for its trust and partnership"

Afreximbank, the sole lender in this transaction, is providing a $140 million term sheet under its intra-Africa investment finance facility, which aims to support cross-border investments and trade within Africa. The facility is part of Afreximbank’s strategy to promote intra-African trade and regional integration, as well as to foster economic diversification and industrialization.

The agreement was signed by Mrs. Kanayo Awani, Executive Vice President of Intra-African Trade Bank at Afreximbank, and Mr. Simon Tiemtore, Chairman and CEO of Lilium Capital and Group Chairman of Vista Bank Group. 

According to words from the representative of the Afreximbank, the deal aligns with the institution's vision for inorganic growth through mergers and acquisitions, and the bank is proud to support Vista Group’s ambition to become a tier one banking player in Sub-Saharan Africa. Mr. Tiemtore acknowledged  that the acquisition is a game-changing endeavor that will create value for all stakeholders, and that Vista Group is grateful to Afreximbank for its trust and partnership.