The Malian government recently bought back shares of the National Bank for Agricultural Development (BNDA) from the German Investment and Development Company (DEG) and Crédit Coopératif, giving the Malian government a 77.33% share of the bank. The German Investment and Development Company and Crédit Coopératif now own the remaining 22.67% of BNDA. Mali will now be able to direct the bank to improve the nation’s agriculture sector. According to Bing Copilot, Mali’s agriculture industry contributes 35% to the country’s GDP and employs almost 80% of the population. Mali’s key players of the agriculture industry are grains, cattle, shea butter, mangoes, peanuts, and fish. As pointed out by La Nouvelle Tribune, Mali intends to use BNDA’s resources to increase agricultural financing, assist small rural businesses, and improve the lives of everyday Malians. BNDA now plans to collaborate with the stakeholders of the agriculture sector to maximize the bank’s ability to grow the sector. Mali also plans to use BNDA to increase the government’s stake in the mining operations in the country. The Malian military junta enacted the new mining code in August 2023, which gives the government and local investors up to a 35% share of any new mine operating in the country. Although BNDA originally focused on the nation’s cotton industry when it was founded in 1981, it currently serves the public as a commercial bank. According to BNDA’s website, the bank has $80.38 million in revenue, 527 employees, 47 branches throughout Mali, a branch in Paris, and 80 ATMs.
Sources:
Mali regains control of major bank
La Nouvelle Tribune
Copilot
BNDA website
