Thursday, December 28, 2023, the Congolese Minister of Economy and Finance, Mr. Jean-Baptiste Ondaye, opened to the public the Agency of the Sino-Congolese Bank for Africa (BSCA.Bank), built at number 725 bis from avenue de l'OUA in Bacongo (2nd district of Brazzaville)

The brilliance of this ceremony, marked by the cutting of the symbolic ribbon and the falling of the curtain which covered the Agency sign, was enhanced by the presence, in particular, of Madam Administrator-Mayor of this district, Simone Loubienga; the Managing Director of BSCA.Bank, Wang Shenghong; of the Chairman of the board of directors of this financial institution, Rigobert Roger Andely and, of course, of the local beneficiary populations.

This one-storey building (R+1) is equipped with 4 ordinary cash registers (including two on the ground floor and 2 upstairs, for very important persons – VIP) and 4 ATMs. (ATM) on the ground floor.

According to Minister Jean-Baptiste Ondaye, the opportunity was ideal, “for district 2 Bacongo, to combine the celebrations of the end of 2023 with those of the inauguration of an agency of the Sino-Congolese Bank for Africa”.

He praised the dynamism of the beneficiary populations of this district and the surrounding area, and urged them to make this establishment their partner. “The opening, here in Bacongo, of the BSCA.Bank agency is proof of the recognition of your dynamism on the economic level. So, it is up to you to confirm this good reputation. It is up to you to truly make the BSCA.Bank agency in Bacongo your agency, your partner, by establishing indissoluble links with it, through your various economic activities.”

BSCA.Bank in pole position in the Congolese banking landscape, with 20.52% of total deposit volume in July 2023

The Monetary Authority of Congo is delighted with the place that BSCA-Bank occupies today, since its establishment in the Republic of Congo. “The banking institution, of which this ceremony is an eloquent testimony to its development, was born from the political will of Presidents Denis SASSOU-N'GUESSO and XI JIPING, expressed during the official visit of the Chinese President to Congo in March 2013. The first act to materialize this political will of the two Heads of State was the signing, on June 12, 2014, of the Beijing Protocol. The second act, which will mark the crowning moment, took place on July 1, 2015, through the opening of BSCA.Bank to the public. Since then, BSCA.Bank has quickly established itself in the Congolese banking landscape. As an illustration: the share held by the Sino-Congolese Bank for Africa, with regard to credits to the economy, increased from 2.07% in 2016 to 10.22% in 2023; the total volume of deposits increased from 4.12% in 2016 to 20.52% at the end of July 20233,” indicated Mr. Jean-Baptiste ONDAYE.

Note that the opening of the BSCA.Bank Agency in Bacongo takes place 3 months and 6 days after the inauguration, Friday September 22, 2023, of the BSCA-Bank Agency in Poto-Poto (3rd district of Brazzaville). The establishment of this financial institution in the Republic of Congo, the result of bilateral cooperation between Brazzaville and Beijing, will continue in 2024, with the opening of the Oyo agency (in the north of the country) and that of Pointe-Noire (South).

The Communication Unit of the Ministry of Economy and Finance