Bank of Africa Group

Name

Bank of Africa Group

Legal name

GROUPE BANK OF AFRICA

Website

https://bank-of-africa.net

Company type

Public

Founded year

1982

Operating status

Operating

Headcount range

5,001–10,000 employees

Ownership category

akta.pro rank

Product category

Retail and Corporate Banking

NAICS

Depository Credit Intermediation (5221), Commercial Banking (52211), Offices of Bank Holding Companies (551111)

SIC

State Commercial Banks (6022)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Retail banking services
• Corporate banking solutions
• SME lending programs
• Trade finance services
• Pan-African banking network

Headquarters

HQ city

Dakar

HQ country

Senegal

HQ region

Africa

Offices19 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Traditional banking interest income from lending activities across all subsidiaries in 19 countries
2. Transaction Fees: Fees from electronic transfers, cross-border transactions, and banking service charges
3. Digital Banking Services: Revenue from digital banking platforms, internet banking subscriptions, and mobile services
4. Trade Finance: Trade finance services and cross-border transaction services for corporate clients
5. Bancassurance: Insurance products distributed through bank branches, launched in Tanzania in December 2021

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Bank of Africa Group operates a pan-African commercial banking platform delivering retail banking, corporate banking, SME lending, trade finance, and investment services through 18 commercial banks across 19 African countries and France. The Group serves individual consumers, SMEs, large corporations, and institutional clients via a network of 530+ branches, digital channels (BOAweb internet banking), and dedicated business centers. Core offerings include deposits, loans, payment cards, cross-border trade finance, bancassurance, and online brokerage services through its BOA Capital Securities subsidiary.

Product overview

BANK OF AFRICA Group operates a multi-channel banking platform consisting of its core digital banking system BOAweb (internet banking), complemented by payment card products (VISA Platinum and Gold cards), insurance distribution through Bancassurance partnerships, and investment services via its BOA Capital Securities subsidiary. The group provides banking services across 19 African countries through a network of commercial banks, with digital channels enabling online banking access for retail and corporate customers.

Differentiator

Problem solved

Functional benefit

Brands

• BOAweb: The Group's Internet Banking platform, offering digital banking services to customers across all subsidiaries.
• BOA Capital Securities

Products and services

• BOAweb Internet Banking
• Bancassurance
• VISA Platinum and VISA Gold Cards
• BOA Capital Securities Online Stock Exchange Platform

Quantifiable outcome

• Expected to make 12,000 new SME loans through IFC facility
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• WEMA BankcoreStrategic or Co-development Partner · 14 October 2019Memorandum of Understanding signed October 14, 2019 between Amine Bouabid (BOA Group CEO) and Ademola Adebise (WEMA Bank CEO) to establish cooperation framework for cross-border trade operations between Nigeria and neighboring countries where BOA operates. Enables customers to conduct commercial transactions across all BOA countries.
• OnafriqminorStrategic or Co-development PartnerStrategic corporate partner in Visa's Africa Fintech Accelerator program, deepening collaboration for fintech innovation across Africa.
• First Bank of Nigeria LtdminorStrategic or Co-development PartnerStrategic corporate partner in Visa's Africa Fintech Accelerator program, contributing to the fintech ecosystem across 12 African countries.
• Operation SmileminorOthersPartnership since 2015 with NGO providing free surgical operations for children with cleft conditions in DRC. BOA-RDC participates in humanitarian missions.
• Lalla Asmaa FoundationminorStrategic or Co-development PartnerJoint action for children's auditory inclusion, supporting hearing-impaired children. BOA Foundation and Lalla Asmaa Foundation collaboration announced March 2025.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/bank-of-africa

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries24 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bank of Africa Group