BANK OF AFRICA

What BANK OF AFRICA does

BANK OF AFRICA — TOGO (BOA-TOGO) is the Togolese subsidiary of the Paris-listed Banque Marocaine du Commerce Extérieur-affiliated Groupe BANK OF AFRICA, one of the longest-standing pan-African commercial banking networks. Operating under a Togolese banking license (agrément T0167Q) granted on January 14, 2013, and listed on the BRVM under ticker BOA, BOA-TOGO runs 11 branches and 1 business centre across Togo (Lomé, Kara, Atakpamé, Sokodé, Cinkassé) and serves retail individuals, SMEs (PME/PMI), large corporates, and diaspora customers.

The product portfolio spans traditional consumer and commercial banking — consumer loans, home loans (Prêt Ma Maison), school loans (Prêt Tous à l'École), equipment financing, term deposits (Dépôt à Terme), and savings certificates (Bon de Caisse) — alongside premium card products (VISA Platinum, Gold, Bleue, Verte Prépayée), trade finance instruments (Crédits Documentaires, Remises Documentaires, Lettres de Crédit Stand-by), and equipment leasing through BOA Leasing credit-bail. The digital channel layer includes MyBOA (mobile banking app on iOS and Android), BOAweb (online banking for businesses with multi-user and multi-signatory validation), BOA Express and Trade Express for intra-network and UEMOA cross-border money transfers, plus Swift-On and B-SMS notification services.

Revenue mechanics combine recurring interest income on lending, transaction fees on transfers and trade finance, annual card fees (94,000 FCFA for VISA Platinum; 59,000 FCFA for VISA Gold), and pay-as-you-go notification services (Swift-On at 665 FCFA per operation). Customer acquisition is split between branch-based relationship management (notably for corporates), self-serve digital onboarding for retail and SME, and structured partnership channels with Meet Up Togo, AFCET for women entrepreneurs, BKG Distribution for equipment, LIM IMPACT for the informal sector, and Fondation AEA for development initiatives. The bank's share capital stands at 15.5 billion FCFA, and within the broader group strategy BOA-TOGO participates in a 770 billion FCFA SME financing pool deployed across Africa.

Name

BANK OF AFRICA

Legal name

BANK OF AFRICA – TOGO

Website

https://boatogo.com

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

51–100 employees

Short description

BANK OF AFRICA — TOGO is a BRVM-listed commercial bank and subsidiary of Groupe BANK OF AFRICA, operating 11 branches across Togo to deliver retail, SME, corporate, and trade-finance banking through physical, mobile (MyBOA), and online (BOAweb) channels.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro industry

PRIMARYFSABAAAA

Mass-Market Consumer Deposit Banking (Checking/Savings)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Retail Banking

Keywords

• Retail banking services
• Commercial banking
• Consumer lending
• Trade finance
• Digital banking

Headquarters

HQ city

Lomé

HQ country

Togo

Offices17 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Traditional banking interest revenue from lending activities including consumer loans, mortgage loans, and business financing
2. Transaction Fees: Fees from money transfers, account operations, and international transactions including credits documentaires and remises documentaires
3. Service Charges: Annual card fees (VISA Platinum, Gold, Bleue), account maintenance fees, and banking service charges
4. Leasing and Credit-Bail: Equipment financing through BOA Leasing for professionals including agricultural equipment, vehicles, and machinery

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

BANK OF AFRICA – TOGO is a full-service commercial bank offering deposit accounts, consumer and mortgage loans, payment cards, savings and term-deposit products, equipment leasing, and trade-finance instruments to individuals, SMEs, and large enterprises. Service delivery combines a physical branch network with the MyBOA mobile app, BOAweb online banking, BOA Express/Trade Express money transfer rails, SMS alerts, and SWIFT notification services.

Product overview

BANK OF AFRICA is a pan-African banking group offering comprehensive banking services through multiple products and channels. The core offering consists of traditional banking services (accounts, loans, deposits) supported by digital platforms including MyBOA (mobile banking app), BOAweb (online banking platform), and BOA Express/Trade Express (money transfer services). For businesses, the portfolio includes BOA Leasing for equipment financing, various trade finance products (Crédits Documentaires, Remises Documentaires, Lettre de Crédit), term deposits, and Bon de Caisse. Card products span VISA Platinum, VISA Gold, VISA Bleue, VISA Verte Prépayée, and Cartes Sésame. Consumer loans cover home loans (Prêt Ma Maison), school loans (Prêt Tous à l'École), equipment loans, and consumption loans. The group also offers insurance products (Zen Educ), savings plans (Plan Epargne Logement, Plan Epargne Ambition), and notification services (B-SMS, Swift-On) for international transaction tracking.

Differentiator

Problem solved

Functional benefit

Brands

• MyBOA: Mobile and online banking application for retail clients providing account access, card management, transfers, and real-time notifications.
• BOAweb
• BOA Express
• Swift-On
• B-SMS
• BOA Leasing
• Trade Express
• Pack Mon Business
• Pack Business

Products and services

• MyBOA Mobile Banking Application Mobile banking application for retail customers providing 24/7 account access, card management, transfers, and real-time push notifications from a smartphone or tablet.
• BOAweb Online Banking Platform Online banking service available 24/7 to enterprises via computers, smartphones, and tablets with multi-user profiles, multi-signature validation, and national and international operations support.
• BOA Express Money Transfer Fast and economical in-branch money transfer service available across the entire BOA network of agencies in the UEMOA zone, open to all customers.
• Trade Express Regional Transfer Instant and secure account-to-account money transfer service offered within the BOA network across the UEMOA zone, designed for SMEs and professionals.
• Carte VISA Platinum Premium international payment card for high-net-worth clients (monthly income above 1,000,000 FCFA) with worldwide acceptance, global assistance services, travel and medical insurance, hotel reservations at preferential rates, and weekly withdrawal/online purchase limits of 4,000,000 FCFA.
• Carte VISA Gold High-end international payment card for clients with monthly income 750,000–1,000,000 FCFA with weekly ATM limit 2,000,000 FCFA, TPE limit 2,500,000 FCFA, and weekly online purchase limit 3,000,000 FCFA.
• Carte BOA VISA Bleue Standard international payment card accepted in over 200 countries with daily/weekly withdrawal capacity of 700,000 FCFA and monthly transaction limit of 2,500,000 FCFA.
• Carte BOA VISA Verte Prépayée Prepaid international card providing spending control, usable in 200+ countries for withdrawals and payments, with monthly recharge ceiling of 10,000,000 FCFA.
• Prêt Ma Maison (Home Loan) Mortgage/home loan product supporting individual customers in acquiring their primary residence, with special conditions available without personal contribution.
• Prêt Tous à l'École (School Loan) Accessible consumer loan designed to help families manage back-to-school expenses with greater financial peace of mind.
• Prêt Equipement (Equipment Loan) Equipment financing loan for individuals and small operators to acquire machinery, vehicles, or other productive assets.
• Prêt Consommation (Consumer Loan) Unjustified-purpose consumer credit product for individuals with flexible repayment terms to finance various personal needs.
• Financement des Actifs (Asset Financing) SME business financing for acquiring premises, equipment, vehicles, or construction work, with repayment up to 10 years and financing coverage up to 90% of project cost.
• BOA Leasing (Crédit-Bail) Equipment leasing service enabling professionals to acquire modern equipment (mining materials, generators, agricultural equipment, tractors, vehicles) with repayment periods up to 72 months and coverage up to 100% of the equipment purchase price.
• Dépôt à Terme (Term Deposit) Term deposit product offering secure and remunerated placement with flexible duration and interest rates determined at the time of deposit.
• Bon de Caisse (Savings Certificate) Guaranteed and profitable savings certificate placement with fixed term and interest rate, available in nominative or bearer form.
• Crédits Documentaires (Documentary Credits) International trade-finance instrument where BOA-TOGO commits to paying the seller upon presentation of specified shipping/compliance documents; available for export and import transactions.
• Lettre de Crédit Stand-by Bank guarantee instrument payable on first demand for international trade operations, offering a lighter procedure than documentary credit.
• Remises Documentaires (Documentary Collections) Documentary collection service enabling simple and effective payment between trusted trading partners, available for export and import transactions with D/P (Documents against Payment) or D/A (Documents against Acceptance) options.
• Swift-On SWIFT Notification Service Service that automatically delivers SWIFT copies via email upon execution of international banking operations including MT 103 transfers and CREDOC MT 700/707 messages, billed at 665 FCFA per operation.
• B-SMS Notification Service SMS banking notification service delivering account updates, transaction alerts, and promotional offers to customers' mobile phones.
• Zen Educ Insurance Insurance product specifically designed to cover educational expenses for policyholders' children.
• Plan Epargne Logement (Housing Savings Plan) Housing savings plan offering competitive interest rates and access to preferential mortgage loan terms upon plan maturity.
• Plan Epargne Ambition Savings plan designed to help customers achieve their personal and professional ambitions through flexible recurring contributions.

Quantifiable outcome

• 2 billion FCFA financing made available for 100 entrepreneurs through Meet Up Togo 2023 partnership
• +1 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Fondation AEA (Agir Ensemble pour l'Afrique)coreStrategic or Co-development Partner · 24 January 2025Partnership with Foundation Agir Ensemble pour l'Afrique signed January 24, 2025 for African development initiatives.
• AFCET (Association des Femmes Chefs d'Entreprises du Togo)coreStrategic or Co-development Partner · 19 December 2023Strategic partnership to support women entrepreneurship in Togo. BOA-TOGO provides financing for women-led SMEs with repayment periods up to 72 months and coverage up to 100% of equipment purchase price. AFCET acts as facilitator providing training, mentoring, and coaching sessions.
• LIM IMPACTcoreStrategic or Co-development Partner · 19 December 2023Partnership to extend financing access to the informal sector. LIM IMPACT serves as incubator and interface for financing projects of women in the informal sector. BOA-TOGO provides expertise, financial resources, and accompaniment for selected initiatives.
• BKG DistributioncoreStrategic or Co-development Partner · 8 May 2023Partnership to facilitate acquisition of professional equipment through BOA Leasing (credit-bail). Equipment includes mining materials, generators, agricultural equipment, trailers, tractors, and vehicles. Repayment up to 72 months with coverage up to 100% of equipment purchase price.
• Meet Up TogocoreGTM or Marketing Partner · 26 April 2023BOA-TOGO as official financial partner of Meet Up Togo 2023 event. The partnership provided 2 billion FCFA in financing for 100 Togolese entrepreneurs. The event focused on African entrepreneurship and local opportunities, with BOA-TOGO supporting the entrepreneurial ecosystem.
• FEFA (Fédération des Employeurs et Entrepreneurs Agro-industriels)minorStrategic or Co-development PartnerPartnership supporting agricultural sector and agro-industrial entrepreneurs.
• Ministry of AgricultureminorStrategic or Co-development PartnerPartnership to support agricultural sector development in Togo.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Ecobank Transnational Incorporated: Pan-African banking group operating in 30+ African countries with retail, SME, and corporate banking. Directly comparable to Groupe BANK OF AFRICA in geographic footprint, customer segments, and product mix, and is the most cited pan-African competitor in West Africa.
• United Bank for Africa (UBA): Pan-African commercial bank present in 20+ African countries plus global offices. Competes head-to-head with BOA in Nigeria and West Africa on retail, SME, and trade finance, and offers similar mobile and online banking capabilities.
• Access Holdings (Access Bank): Pan-African banking group expanding across West and East Africa (including through the failed Sidian/CBA acquisition). Comparable to BOA's SME focus, retail digital banking, and multi-country branch model.
• Coris Bank International: West African banking group headquartered in Burkina Faso, active across UEMOA countries. Directly comparable to BOA in retail/SME banking footprint, digital channel deployment, and SME financing programs in Togo's neighborhood markets.
• Oragroup (Orabank): Pan-West/Central-African banking group present in 12+ countries including Togo. Competes directly with BOA on retail banking, SME credit, and digital channels across the WAEMU and CEMAC zones.

Broad incumbents

• BMCE Bank of Africa (parent group): Moroccan parent/related entity of the BANK OF AFRICA Group, listed in Casablanca. Overlaps in retail and corporate banking across North and sub-Saharan Africa and is the natural regional incumbent anchor.
• Attijariwafa Bank: Major Moroccan banking group with subsidiaries across North and West Africa (including Togo via Atlantique Banque). Competes with BOA in UEMOA retail and corporate banking, and serves as a broader pan-African incumbent.
• Standard Chartered Bank (Africa franchise): Global bank with selective African presence focused on corporate, transaction, and trade finance. Comparable to BOA's large-enterprise and trade-finance offering in markets like Ghana, Kenya, and Tanzania, though with minimal retail overlap.

Regional players

• BICIM (Banque Internationale pour le Commerce et l'Industrie du Mali) / Groupe BNI: UEMOA-region commercial bank part of the Groupe BNI network. Comparable to BOA on retail deposit-taking, SME credit, and trade finance across francophone West Africa, though with a more regionally concentrated footprint.
• NSIA Banque: Ivorian-headquartered banking and insurance group with West African reach. Comparable to BOA's UEMOA franchise on retail and SME banking, though with a heavier concentration in Côte d'Ivoire than BOA-Togo.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

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

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries16 records

Funding overview

Funding rounds

Investors

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