4 billion loan raised from GROUPE VETO SERVICES

2023-11-21 07:40:49

For the 6th consecutive time since 2018, the Veto Services Group (GVS–SA) turned to the sub-regional money market to carry out an issue of commercial paper, still in partnership with SGI AFRICABOURSE. This sixth issue, representing the second tranche of the third program amounting to 4 billion FCFA, once again stands out from its previous operations.
Recent history still remembers its last issue last December based on a BCEAO classification agreement, carried out at an interest rate of 6.5%, thus marking the lowest rate obtained by GVS in recent years , reducing from 7.5% to 6.5%.
Despite the unfavorable economic context characterized by the increase in the Central Bank’s key rate, leading to an increase in nominal interest rates in the context of Treasury Paper issues on the money market, GVS maintains its confidence in investors and its expertise, again issuing at a rate of 6.5%.
For this second tranche of the third program, a total amount of 2 billion CFA francs was mobilized during the month of September 2023. This issue consists of 400 securities, with a nominal value of 5 million CFA francs, with a maturity of 24 months and an interest rate of 6.5% gross per year.
The Veto Services SA Group, heavily involved in the Beninese market in the supply of veterinary medicines and zootechnical inputs, will use these resources to finance its short-term financing needs.
The operation was approved by the Central Bank of West African States (BCEAO) under the identification number: B301051B3 BT 6.50% 12-2022.
Through the success of this operation, SGI AFRICABOURSE confirms its role as privileged interlocutor for Beninese companies and UEMOA for support and mobilization of financial resources at the best market conditions. Investors’ continued confidence in GVS is a testament to their strong financial partnership.
About GVS – SA
A limited company with capital of 512.42 million CFA francs, the Véto Services Group operates in the fields of import and distribution of veterinary medicines and zootechnical inputs, production of animal feed, as well as the processing and storage of products of animal and plant origin in the Republic of Benin.
These emission programs enabled GVS to increase its industrial production by 36.63%, its turnover by 19.01%, its value creation by 10.28% and its contribution to tax revenue. State of 131.54% between 2018 and 2022.
For its General Director, Mr. Rémi Cossi CODJIA, the prospects are very promising. The trend is also expected to continue in the coming years.
About AFRICABOURSE
SGI AFRICABOURSE SA is a Management and Intermediation Company (SGI) (brokerage company) with capital of 1,000,000,000 FCFA specializing in investment and engineering services, through brokerage, placement, arrangement of fundraising operations on the WAEMU capital market. It is present in Ivory Coast, Togo and Benin.
It is approved by the UEMOA Financial Markets Authority (AMF) under No. SGI-021/2005.
AFRICABOURSE is, with three other companies (FINANCIA; AFRICABOURSE ASSET MANAGEMENT and OMNIUM DE GESTION ET D’INFORMATIQUE), a subsidiary of the FINANCIA GROUP holding company with capital of FCFA 2,007,660,000.
Tel : [phone]
Email : [email protected]
Site web : www.africabourse.com

QA November 21, 2023