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DEVLHON Consulting Deciphers: The Withdrawal of French Banks from Africa, a Strategic Turning Point
Africa is undergoing significant changes in its banking sector. For several years, major French banks, such as Société Générale, BNP Paribas, and Crédit Agricole, have been reducing their presence on the continent. This trend is accelerating, with the recent sale of numerous subsidiaries in countries like Congo, Senegal, and Guinea.
Why this withdrawal?
The retreat of French banks is driven by a combination of factors. On one hand, the profitability of operations in Africa remains low: Société Générale, for instance, derives only 7% of its net banking income from the continent. On the other hand, economic, political, and geopolitical risks are on the rise, particularly in unstable regions like the Sahel.
Increasingly stringent European regulations also require banks to maintain significant capital reserves to cover risks associated with their international activities. This context pushes banks to focus their efforts on markets considered more stable and better understood, such as Europe or the United States.
An Opportunity for Local Players
The retreat of European giants creates opportunities for African and regional banks. Institutions such as Vista Bank and Coris Bank are leveraging this reconfiguration to expand their networks. These players, better attuned to local realities, emphasize serving SMEs and mid-sized enterprises, often overlooked by foreign banks.
African states, for their part, are seizing the moment to strengthen their financial sovereignty. For example, Senegal has positioned itself to acquire Société Générale’s local subsidiary, aiming to better finance local projects and small businesses.
The Role of Moroccan Banks
Moroccan banks, such as Attijariwafa Bank, have been pioneers in this transformation. Since the 2000s, they have established themselves as key players in sub-Saharan Africa, targeting sectors often neglected by French banks, such as retail banking and the middle class.
A Beneficial Reconfiguration?
The withdrawal of French banks, though perceived as a retreat, could present an opportunity for the continent. The rise of robust African banks tailored to local needs promotes more inclusive financing, rooted in the region’s economic realities. For European banks, this movement marks a strategic redefinition of their role in Africa.
At DEVLHON Consulting, we closely monitor these changes as they redefine economic dynamics and investment opportunities across the continent. Through our expertise, we assist our partners in understanding these transformations and seizing the opportunities they bring.
C’est qu’en fait la démarche est visiblement partie de l’accompagnement des aidants, sur lequel le Groupe BPCE s’est positionné récemment, pour constater que les « Silver », les 50-65 ans (et plus) ont encore souvent des parents quasiment à charge et que, d’une certaine façon, ce sont eux qui sont les meilleurs destinataires des offres liées à la dépendance ou à la transmission.
A partir de là, il est possible d’élargir l’offre aux attentes plus spécifiques des Silver : loisirs, mobilisation du patrimoine, nouvelles occupations, …
Nous sommes ici en plein dans la banque des usages et, en France, cette approche est encore singulière. Il s’agit de reconfigurer et d’enrichir les offres classiques en considérant les modes de vie. Pour cela, il suffisait d’abaisser le curseur des seniors à 50 ans. Simple ! Mais, à notre connaissance, la Banque Populaire Grand Ouest est la seule à y avoir pensé.
Pour tout cela, la décision du Crédit Mutuel parait une innovation assez remarquable. Pourtant, tout cela, le Crédit Mutuel le mettra-t-il en avant ? Avec leur communication de masse, leur manque de relais d’opinion et leur gêne à aborder tout sujet qui n’est pas très largement consensuel, les banques françaises ont-elles les moyens de faire cela ?
