BGFIBANK’S STOCK MARKET LAUNCH : Henri-Claude Oyima Defends the Process Against Unfounded Allegations

(LVDE) – Henri-Claude Oyima, Chairman of the BGFIBank Group and Gabon’s Minister of Economy, has come forward to defend the legitimacy of the bank’s stock market listing process. In an exclusive interview with the newspaper EcoMatin, he denounced what he describes as an illegitimate challenge led by a minority resistant to change.

The stock market debut of BGFIBank—an important milestone for the banking sector in the CEMAC region—has run into legal hurdles. Oyima, a key figure at the helm of the group, firmly rejected the accusations surrounding the operation. Initially scheduled for July 31, the listing was abruptly suspended following a legal complaint, causing frustration among some shareholders.

Although he recently announced his intention to step down as head of the group, Oyima remains committed to seeing the listing through. Speaking in Douala on August 5 during his EcoMatin interview, he emphasized that the process had strictly followed all required procedures.

“We are completely confident because we have all the necessary documentation to prove the process was carried out properly,” he said, highlighting the legitimacy of the Extraordinary General Meeting held on June 25, during which the listing was approved.

At the heart of the controversy is a group of shareholders led by Christian Kerangall, who holds 23% of the company’s capital. They claim the management acted unilaterally during the meeting, arguing that “some votes were not counted.” Oyima dismissed the claims, stating : “I chaired that General Assembly, and I can assure you everything was done strictly by the book. The attendance sheet was signed by all participants, and the vote results were verified by the scrutineers.”

According to him, the opposition’s allegations lack legal merit. “If any irregularities had occurred, they would have been raised immediately—but that didn’t happen,” he added.

Despite the listing being suspended, Oyima expressed confidence in the process’s continuation. “What we’re seeing now is mostly just posturing. This will be resolved quickly, and we will resume the normal course of the listing,” he said.

He reminded that the listing project was approved as early as 2019 but was delayed due to the COVID-19 pandemic. “Let me repeat : I am totally confident—this listing will happen,” he insisted.

BGFI Holding Corporation plans to offer 10% of its capital to the market—over 1.5 million shares—at a price of 80,000 FCFA per share. The listing is part of a broader transformation strategy for the group, which recently updated its governance model.

In 2024, BGFIBank posted a record net profit of 122 billion FCFA (a 27% increase), and total assets of 5,951 billion FCFA (+12%). Outstanding loans amounted to 3,562 billion FCFA, reflecting the group’s strength and resilience in a challenging market.

In spite of legal tensions, Henri-Claude Oyima remains determined to make the IPO a success, convinced that this step is essential for BGFIBank’s future and the development of the Gabonese banking sector. The path to the stock market may be fraught with challenges, but for Oyima, commitment to transparency and market regulations remains the top priority.

Esther Grace