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The microfinance Cepi SA wants to increase its capital to 2.5 billion CFA francs

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The Caisses d’Epargne Populaire et d’Investissement SA (Cepi SA) company wants to move on to another stage. The 2nd category microfinance institution has decided to increase its share capital by an amount of one billion FCFA. The decision was adopted unanimously on March 20 during an extraordinary general meeting. To obtain the funds, the microfinance issued 100,000 new shares with a value of 10,000 FCFA each to be subscribed and released in cash by the old and new shareholders. The issue floor is 100,000 and the ceiling is 150,000 to be released in cash only. If it succeeds in its operation, the capital of Cepi SA should increase from 1.5 billion to 2.5 billion FCFA.

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According to the press release published for this purpose by the notary Me Béatrice Assena Okouda, the issue of new shares will be in batches of 1000 shares minimum, i.e. a total amount of 10 billion FCFA for each batch. The duration of subscriptions to increased share capital is set at 6 months. It will begin on May 1, 2021. “Full power has been given to the board of directors to adopt other terms and conditions of this issue and to modify the articles of association accordingly” can we read.

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