Simon Tiemtore

West Africa
Orabank's recapitalisation rejected by the BCEAO

The West African Development Bank's Orabank rescue plan has been rejected by the Central Bank of West African States, which is refusing to let the BOAD finance the group's recovery.

West Africa
Vista Bank abandons plans to acquire Oragroup

On 13 May, the group headed by Simon Tiemtoré informed the pan-African bank Oragroup that it would not be acquiring the shares held by the Emerging Capital Partners fund. This marks the end of two years of thorny negotiations.

Ivory Coast
Tycoon Tiemtoré fails in bid to buy Novamed hospital group

Lilium Capital, headed by Burkina Faso businessman Simon Tiemtoré, failed to convince Novamed's co-founders that it had sufficient financial backing.

West Africa
Tycoon Simon Tiemtoré hoping to buy stake in Novamed healthcare group

Simon Tiemtoré, a US businessman from Burkina Faso and founder of Lilium Capital, pan-African banking conglomerate Vista Bank's holding company, has entered into negotiations to buy the Novamed healthcare group.

West Africa
Two Vista Bank mainstays exit group

The pan-African banking group has just lost two of its mainstays: Stéphane Ouédraogo and Thierry Hott. Ouédraogo and Hott are both well-connected in the sub-region, and had shared their contacts with Vista Bank.

Burkina Faso
Behind the scenes of tycoon Simon Tiemtoré's reconciliation with Endeavour Mining

On 26 August, Lilium Capital and Canadian mining group Endeavour finalised an agreement to transfer to the state the Boungou and Wahgnion gold mines, at the heart of their dispute since June 2023. The deal had been discussed since May, under the close supervision of the junta.

Burkina Faso
Insecurity drives down gold production

The deteriorating security situation is taking a heavy toll on Burkina Faso's gold mining industry, the backbone of the country's economy. According to a confidential internal report from the Ministry of Mines, Burkinabe gold production has fallen by 10 tonnes in two years.

Ivory Coast
Vista's takeover of Oragroup encounters fresh problem

Although the parties reached agreement on the transaction last year, the sale of the pan-African banking group has been suspended. One of the parties failed to provide the requisite documents on time.

Ivory Coast
BCEAO seeks assurances over Oragroup sale

The Central Bank of West African States wants the regional banking holding company to provide guarantees about its potential buyer. But complying would mean divulging sensitive information about the Vista banking group's main shareholder, Simon Tiemtoré.

Burkina Faso
Simon Tiemtoré sets up gold mining task force

The American-Burkinabe businessman, who acquired the Boungou and Wahgnion gold mines last June and who until then had mainly been active in finance and agribusiness, has put together a close-knit team to develop his mining interests.

Burkina Faso
Boungou gold mine far from recovery

The mine bought by Simon Tiemtoré's Canadian company Lilium Mining in 2023 has ground to a halt because of ongoing militant attacks on fuel deliveries.

Ivory Coast
Banker Simon Tiemtoré makes final push to take over Oragroup

The Vista boss travelled to Abidjan in late December to resume talks on the takeover of Togo-based bank Oragroup, owned by Emerging Capital Partners.

Ivory Coast
Orabank deal stalls over contested sale price

Vista reached an agreement in August with Emerging Capital Partners to acquire the pan-African banking group Orabank, of which ECP is the main shareholder. But a disagreement over sale price means the deal is yet to be finalised.

Congo
US fund Lilium Capital prepares billion-dollar investment in Congo

American fund Lilium Capital is finalising the details of an investment of nearly a billion dollars in the country, alongside Afreximbank and Ecobank.

Burkina Faso
Endeavour's sale of gold mines to Simon Tiemtoré marred by tax debt

For the past two years, Burkina Faso customs have been demanding more than €90m for the Boungou and Wahgnion mines, which Endeavour Mining has sold to Simon Tiemtoré of Lilium Capital without disclosing the debt.

Burkina Faso
The real reasons why Endeavour is selling its Boungou and Wahgnion gold mines

The sale of the two sites for $300m to Simon Tiemtoré can be largely explained by attacks from jihadist groups and disputes with local communities that interrupted operations. The Canadian company is now focusing on Abidjan instead.

Congo
SocGen extends Brazzaville's right of pre-emption over SG Congo sale to 17 July

The Société Générale is eager to ease tensions over the sale of its Congolese subsidiary SG Congo to Vista Bank, owned by the Burkinabe banker Simon Tiemtore, and has given Brazzaville until 17 July to exercise its right of pre-emption over its 93.

Congo
Congo and Equatorial Guinea oppose Vista takeover of Société Générale subsidiaries

Société Générale announced on 8 June that it was selling its Congolese and Equatorial Guinean subsidies to the Burkina Faso company Vista Group. But Brazzaville has already said it will preempt the sale and Malabo may follow suit.

The New Guard
Burkina Faso, Kenya, DRCongo

Every Wednesday, Africa Intelligence spotlights a new generation of movers and shakers in business and politics.

Burkina Faso Roland Yago, the financier ranking West African banks

Kenya Shikoh Kihika, an 'artivist' fighting tribalism

DRC Eric Mukuma, afterlife and environmental entrepreneur