By Dipo Olowookere
The Orabank Group has announced the opening of a regional and international trading room in Lomé, Togo.
The firm, which has presence in 12 countries and in four monetary zones in West and Central Africa, has ever since its formation, had the will and ambition to support its customers (both individuals and businesses), to actively contribute to the financing of the private sector, to optimize the mobilization of local savings and to stimulate growth in African financial markets.
This new trading room provides a concrete answer to each of these four objectives. Indeed, it offers Oragroup a leading position as a financial intermediary that places the bank at the heart of financial exchanges in the countries where it operates, in order to best serve its private and institutional clients, both in Africa and internationally, as well as other regional banks.
In a market previously dominated by players operating from Europe and the United States, Oragroup now offers its clients a competitive and up-to-date offer in Africa, to intervene on the foreign exchange market in the monetary areas where its subsidiaries are established. The Orabank Group wishes to be a key player in the UEMOA money market and to play a leading role in boosting the secondary market for government securities.
The opening of this trading room is also intended to strengthen synergies within the Group, allowing significant economies of scale in foreign exchange hedging transactions between subsidiaries while increasing the share of cash net banking income. This new step is part of the “2016-2018 Strategy – Consolidation and Efficiency” plan, aimed at strengthening the Group’s financial strength.
“This new step illustrates the dynamic of our Group characterized by a strong performance in 2016 and an upward trajectory in 2017, combining profitability, commercial development and innovations, particularly in the deployment of digital solutions. In 2018, Oragroup is set to accentuate its growth along with its values of humanity, commitment, and rigor in order to contribute to the development of the African financial sector as a central engine of our economies. That is our collective will”, says Binta Touré Ndoye, CEO of Oragroup.
