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IB Holding, an investment holding led by Burkinabe construction tycoon Mahamadou Bonkoungou, has appointed Moroccan banking executive Nabil Tahari as the managing director of its new Togolese banking outfit, which launched after the holding acquired the Togolese Bank for Trade and Industry (BTCI).
Bonkoungou, who owns EBOMAF S.A., one of Francophone Africa’s largest construction companies, chairs IB Holding’s board of directors.
Tahari, a renowned banking executive and former Societe Generale Burkina employee, is expected to deploy his knowledge, skills and experience to benefit International Business Bank Togo (IB Bank Togo).
Tahari’s strong leadership skills, which include 15 years of experience abroad in the financial services industry, will be pivotal to the new entity, as the Moroccan executive will take strategic decisions that will drive the bank through its initial expansion phase.
His position in the Togo-based banking outfit was confirmed after IB Holding finalized the acquisition of BTCI.
As of Dec. 31, 2020, BTCI had an asset value of XOF264 billion ($454.7 million) and ranked sixth among Togo’s leading financial services providers.
The acquisition of the bank, which marks Bonkoungou’s entry into Togo’s commercial banking and financial services industry, saw IB Holding take control of a majority 90-percent stake in BTCI.
Upon the conclusion of the deal this month, BTCI was renamed IB Bank Togo after its operations were integrated into IB Holding as one of the holding’s myriad subsidiaries.
