Banque
Gabonaise
et
Francaise
Internationale
(BGFI)
Company Profile and History
BGFI
Bank
was
established
as
a
100
percent
African
Bank
in
April
1971.
It
was
born
out
of
a
partnership
between
Banque
nationale
de
Paris
(BNP-Parisbas),
the
Netherlands
and
the
Gabonese
government
-
10
years
on
the
bank
was
renamed
Banque
Paribas
Gabon.
The
change
in
strategy
adopted
by
Paribas
in
1996
saw
the
state
become
the
majority
shareholder
and
the
bank
renamed
once
more,
this
time
as
Banque
Gabonaise
et
Française
Internationale
(BGFI).
In
2000
the
first
branch
outside
Gabon
was
opened
in
Brazzaville.
This
was
followed
by
another
in
Malabo
in
Equatorial
Guinea,
and,
in
2001,
the
Pointe
Noire
branch
in
Congo.
In
2001
BGFI
signed
a
partnership
agreement
with
Western
Union
International
and
created
a
BGFI/Western
Union
network
in
Gabon.
BGFI/Western
Union
in
Gabon
has
a
network
of
16
branches
including
12
in
Libreville,
2
in
Port-Gentil,
1
in
Moanda
and
1
in
Franceville.
In Country Location
Registered
Office/Libreville;
1295
Boulevard
de
l’Indépendance;
Telephone:
+
(241)
76
01
37
Telefax:
+(241)
74
08
94
Port
Gentil
Branch;
Avenue
Pierre
Savorgnan
de
Brazza;
Telephone:
+
(241)
55
38
35
-
55
38
36
Telefax:
+
(241)
55
38
19
Services and Products
The
bank
offers
personal,
commercial,
corporate
and
merchant
banking
products
and
has
relationships
with
all
major
international
and
regional
financial
institutions.
BGFIBOURSE
was
created
in
December
2005,
and
provides
the
following
services:
securities
brokerage
(stocks,
bonds);
advice
and
introduction
of
limited
stock;
conduct
bond
syndication;
UCITS
management
(mutual
funds,
FPC);
and
financial
services
(maintaining
the
register
of
shareholders,
payment
coupons,
convening
of
General
Assemblies,
power
management,
etc.).
BGFI
Real
Estate
was
established
in
March
2006.
This
company
specializes
in
the
promotion,
management
and
finance
of
real
estate.
At
31
December
2008,
the
BGFI
Banque
Privee’s
portfolio
consisted
of
1,300
customers
managed
by
the
ETOILE
branch
in
Libreville,
offering
high-quality
commercial
and
operational
services.
This
group
manages
customers
with
significant
financial
assets
who
want
to
find
a
different
management
solution,
more
tailored
to
their
needs,
combining
traditional
banking
services
and
multi-disciplinary
services.
This
service
focuses
on:
private
management
through
tailor-made
products
and
services;
enhancing
the
value
of
financial
assets
by
pointing
the
customer
in
the
direction
of
investment
opportunities;
consultancy
or
assessment
of
assets
for
possible
diversification
of
assets;
and
insurance.
BGFI/Western
Union
specialises
in
money
transfers.
It
offers
its
customers
a
choice
of
two
products:
Will
Call
-
the
transfer
of
money
from
one
individual
to
another;
and
Quick
Pay
-
the
transfer
of
money
from
individuals
to
a
company.
BGFI
is
the
first
African
financial
player
to
have
signed
the
United
Nations
Global
Compact
for
promoting
sustainable
development
through
the
defence
of
human
rights,
preserving
the
environment
and
fighting
corruption.
Number of Employees
220
employees
in
Gabon
Financial Information
Market Share
BGFI
holds
almost
half
the
national
banking
market.
BGFI’s
market
share
in
Gabon
has
risen
by
almost
14
points
over
the
last
five
years.
It
has
increased
its
share
of
loans
from
30
percent
to
43
percent
and
to
41
percent
of
deposits.
BGFI/Western
Union
has
a
52
percent
market
share
in
Gabon.
Business Objective
BGFI
has
the
following
objectives:
to
focus
exclusively
on
its
core
business;
to
continue
to
strengthen
its
national
positions;
and
to
remain
the
leader
in
the
Gabonese
banking
sector.
“Through
its
strategy
of
intelligent
networking
and
tailored
products
and
technologies,
BGFIBANK
intends
to
be
the
preferred
bank
for
private
individuals
and
high-achieving
SMEs,
and
their
local
bank
in
terms
of
location
and
relationship.”
Business Model
“The
company
has
undergone
a
number
of
changes
during
2008.
These
include
a
new
organizational
structure,
new
challenges
with
regard
to
our
Total
Quality
initiative,
and
enhancement
of
our
supervisory
and
risk
Assessment.
During
2008
we
consolidated
our
acquisitions
and
optimised
our
key
success
factors
to
prepare
the
Group
for
the
challenges
facing
us.
‘’The
‘Ambitions
2010’
Corporate
Plan
is
the
key
document
in
this
respect;
it
enables
every
employee
to
understand
his
position,
role
and
his
responsibilities
in
dealing
with
the
issues
faced
by
the
Group.
‘’The
Group
is
organised
on
a
collaborative
basis.
Every
employee
is
a
separate
link
in
a
single
chain
serving
the
customer
and
consequently
every
role
is
an
important
part
of
the
entire
process.
Our
constantly
improving
results
are
the
fruit
of
this
teamwork
and
the
proof
that
all
members
of
staff
are
involved
in
the
perpetual
quest
for
Excellence,
which
has
been
our
primary
concern
for
several
years.
‘’This
dynamic
approach
to
development
and
growth,
which
is
the
basis
of
all
our
customer
service
activities,
has
enabled
us
to
achieve
the
results
and
strategic
objectives
stated
in
the
“Ambition
2010”
corporate
plan:
in
less
than
5
years,
we
have
increased
our
market
share
in
Gabon
significantly,
consolidating
our
position
as
market
leader;
in
other
countries,
we
have
confirmed
that
we
are
the
market
leader
in
the
Republic
of
Congo
and
have
consolidated
our
presence
and
increased
our
capability
for
further
business
in
Equatorial
Guinea;
all
the
Group’s
financial
objectives
have
been
achieved,
in
terms
of
growth
in
net
banking
income,
in
consolidated
net
profit
and
in
management
ratios.
‘’Our
attention
is
now
focused
on
the
next
stages
of
our
development:
to
consolidate
our
position
as
leader
in
our
domestic
market
in
Gabon
and
in
the
Republic
of
the
Congo
and
in
our
target
segments,
which
are
upmarket
private
individuals,
major
corporations
and
SMEs
with
high
potential;
to
retain
the
confidence
of
our
shareholders
who
are
mainly
international
private
investors
and
who
ensure
our
independence;
to
continue
to
develop
a
range
of
services
in
different
countries
by
further
diversifying
our
Special
Financial
Services
and
extending
our
international
presence
in
Africa
and
in
other
areas
with
strong
growth
potential;
to
improve
our
efficiency
through
increased
performance
and
better
cost
management;
to
provide
the
best
possible
Human
Resources
management;
to
continue
to
reform
and
modernise
the
Governance
of
the
Group
and
at
the
same
time
improve
the
professionalism
of
our
internal
control
and
risk
management
mechanisms;
and
to
improve
the
image
of
the
Group
by
reaffirming
our
values
and
business
culture.
‘’BGFI/Western
Union
BANK
has
benefited
from
an
effective
ethnic
marketing
campaign,
which
continues
to
bear
fruit.
Its
links
with
the
various
diasporas
make
Western
Union
BGFIBANK
the
main
strategic
partner
of
these
communities
and
also
of
customers
from
the
tertiary
sector.
‘’We
will
continue
to
advance
during
2009,
by
establishing
a
new
identity
and
a
new,
more
customer
oriented
service
called
BGFI
CASH.
The
objectives
are:
winning
new
markets:
to
address
the
problem
of
micro
finance,
as
well
as
money
transfer;
acquiring
new
services:
to
make
the
BGFI
CASH
network
the
main
tool
for
distributing
BGFIBANK
electronic
banking
and
consumer
credit
services;
and
acquiring
new
skills:
to
tailor
the
training
programme
to
the
problem
of
matching
posts
with
profiles.
This
winning
approach
will
be
based
on
three
key
principles:
managing
risk,
a
growth
in
operations
and
customer
satisfaction.”
Ownership of Business
Principal
Shareholders:
Compagnie
du
Komo
(25.01
percent);
Banque
Gabonaise
de
Developpement
(15.00
percent);
Delta
Synergie
(13.36
percent);
State
of
Gabon
(8.00
percent);
BGFI
Participations
(8.18
percent)
Benefits Offered and Relations with Government
The
Bank
of
the
Central
African
States
(BEAC),
headquartered
in
Cameroon,
regulates
the
banking
system
in
the
region,
including
Gabon.
Within
the
BEAC
is
the
Banking
Commission
of
Central
African
States
(COBAC),
which
ensures
the
legality
of
the
operations
carried
out
by
financial
institutions.
BEAC
issues
the
currency
and
controls
liquidity
within
the
zone.
The
interest
rate
structure
is
common
to
all
member
countries
of
the
zone.
Within
the
CEMAC
zone,
the
CFA
franc
circulates
freely
and
may
be
freely
converted
to
other
currencies
through
the
banking
system.
The
bank’s
directors
had
a
particular
close
relationship
with
the
late
president
Omar
Bongo
and
investigations
into
Bongo’s
corrupt
activities
have
implicated
the
bank.
Bongo,
along
with
President
Denis
Sassou
Nguesso
of
the
Republic
of
the
Congo,
Blaise
Compaoré
of
Burkina
Faso,
Theodor
Obiang
of
Equatorial
Guinea
and
Dos
Santos
from
Angola
are
investigated
by
French
magistrates
for
alleged
corruption.
Bongo
was
accused
of
using
millions
of
pounds
of
embezzled
public
funds
to
acquire
lavish
properties
in
France.
It
is
alleged
that
Gabon’s
wealth
was
siphoned
off
through
BGFI
and
that
the
main
purpose
of
opening
branches
in
Equatorial
Guinea
and
Congo-Brazzaville
was
to
assist
in
money
laundering.
BGFI
directors
include
Jean
Ping
(once
married
to
Bongo’s
daughter)
and
one
of
Bongo’s
sons,
Christian
Bongo.
Jean
Ping
is
one
of
the
most
powerful
members
of
Bongo’s
“clan.”
Product Development
In
2008,
BGFIBANK
was
the
most
dynamic
bank
on
the
market
in
Gabon
in
terms
of
creating
new
products.
Five
products
were
launched:
Homme
Clé,
Contrat
Padouk,
Contrat
Moabi,
la
Carte
Salaire
and
Mobiline.
Homme
Cle
is
a
life
insurance
policy
intended
primarily
for
sole
proprietorships
and
self-employed
professionals;
Contrat
Padouk
and
Contrat
Moabi
are
life
assurance
products
intended
for
“upmarket”
customers
and
“standard”
private
individual
customers
respectively;
La
Carte
Salaire
is
an
ATM
card
which
enables
employees
without
a
bank
account
to
withdraw
their
salary
through
BGFI’s
ATMs
and
electronic
payment
terminal
network
;
and
Mobiline
enables
customers
to
receive
information
about
their
bank
account
through
their
mobile
phone.