The money sought on the WAEMU market is 35 billion CFA. The minimum subscription amount is 5 million CFA until December 4th. For subscribers (private and institutional investors, individuals, companies, etc.), the rate is 6.10% over a maturity of 24 months.
"For Togolese residents, the income is entirely tax-free. It means, an investor who invests in these commercial paper and who lives in Togo will see his income fully tax-free. No levy will be taken into account", reassures Cheikh Tidiane N'diaye, Deputy Director General of Oragroup.
"The beneficiaries of the fund that will be raised are particularly Orabank Côte d'Ivoire (10 billion), Orabank Togo (10 billion), Orabank Benin (5 billion) and Oragroup S.A (10 billion)," he added.
A bank engaged in agriculture
Orabank is one of the pioneering Togolese banks to support the financing of the agricultural sector. As a major partner of the risk-sharing agricultural financing incentive mechanism (MIFA), financing agriculture is a priority in Orabank Togo' strategy.
"Even before MIFA SA, the bank itself was involved in the agricultural sector, and Orabank Togo had been involved with the agricultural sector from the beginning, well before the reorganization of the financing of the agricultural sector by MIFA, we always thought that this sector was a way forward and were already 2% credit granted", Koffi Dorkenoo, deputy director general of the Togolese subsidiary told agridigitale.
"With MIFA, significant financing has already been released to entrepreneurs in the sector.The interest rates in the agricultural sector specifically with MIFA are more or less controlled and very low and can be up to 3%. These are the lowest rates in the bank", explains Dorkenoo.
For him, this step has be taken thanks to the will of the public authorities to support the banks to be interested in the sector of the agriculture, the poor relative in bank financing.
Oragroup for more growth
Present in 12 countries including the 8 of WAEMU, Oragroup records according to its leaders, remarkable performances in recent years. The Togolese subsidiary (Orabank Togo) holds the leadership of the cohort of banks with a steady increase in revenue including that of 2018 estimated at 17%.
"In Togo, we are the leading bank on all indicators.The banking group has development needs to support its subsidiaries, strengthen their capital and increase its interventions," said Tidiane. All this justifies the use of the market to mobilize 35 billion CFA to meet this challenge.