Bank of Africa (CBSE:BOA) agreed to acquire 43.65% additional stake in BTI Bank from Al Baraka Group B.S.C. (BAX:BARKA) on December 26, 2022. ABG will continue to operate across three continents through its subsidiary banking Units and representative offices. The transaction, which is subject to local regulatory approvals, has received approval from the Central Bank of Bahrain (CBB).

Yassir Ghorbal of Allen & Overy acted as a legal advisor to Bank of Africa.