Morocco’s BCP to expand activities in Africa by acquiring a Mauritius bank

Morocco’s Banque Centrale Populaire wants to acquire banks in four African nations, said Bloomberg on Wednesday.

The bank’s objective is to boost the «region’s income contribution», added the same source, indicating that it also wants to generate 30 percent of its income from the African continent in the next two years.

«We’re looking for opportunities in Kenya, Rwanda, Ghana and Tanzania in the medium-term. We’re on the right track to reach 30 percent of income from Africa by 2020», co-Chief Executive Officer Kamal Mokdad said in interview on Wednesday in Mauritius.

BCP will base its activities in Africa in Mauritius, by concluding the acquisition of Banque des Mascareignes this week.