Table of Contents
Key Points
- Burkina Faso’s richest man secures $5.2 million to boost Togo’s agriculture, easing access to modern farming equipment.
- The financing, part of a 2023 partnership, enables farmers to acquire tractors and harvesters, easing financial barriers to mechanization and boosting productivity.
- Mahamadou Bonkoungou is expanding beyond construction into finance, aviation, and agriculture, strengthening his influence across West Africa.
Mahamadou Bonkoungou, Burkina Faso’s richest man and chairman of EBOMAF Group, has secured €5 million ($5.2 million) in financing from Bank of Africa Togo (BOA-Togo) to help farmers access modern equipment and improve productivity.
The funds will be channeled through Bonkoungou Distribution (BKG), a subsidiary of EBOMAF, allowing Togolese farmers to acquire tractors, combine harvesters, and other machinery under flexible payment terms. By easing the financial burden of mechanization, the initiative tackles a key challenge in the sector, making it easier for farmers to scale their operations.
Expanding access to agricultural equipment
The financing builds on a partnership established in May 2023 between BOA-Togo and BKG Distribution, aimed at breaking financial barriers to mechanization. BKG CEO Bassirou Bonkoungou emphasized that the initiative provides farmers with a practical solution to increase output without the immediate pressure of large upfront costs.
“We are committed to supporting farmers with cost-effective solutions tailored to their needs,” Bonkoungou said. An additional €10 million ($10.5 million) in financing is expected, further expanding BKG’s capacity to supply advanced farming tools and accelerate Togo’s push for agricultural modernization.
Bonkoungou’s expanding business empire
While Bonkoungou made his fortune in construction, his business interests now span finance, aviation, and agriculture across West Africa. His company, EBOMAF Group, has played a major role in infrastructure, overseeing projects like the Lomé-Kpalimé road construction in Togo.
Through IB Holding, he also owns International Business Bank (IB Bank), strengthening his footprint in West Africa’s financial sector. His aviation company, Liz Aviation, operates key regional routes, including Lomé-Ouagadougou.
More recently, he entered the mobility tech space with BKG SPEED, a car reservation platform aimed at improving transport services in Togo. He has also invested in healthcare, launching the Princess Sarah Clinic in Ouaga 2000, Burkina Faso, in a deal with a Turkish medical provider.
Strengthening his presence in Togo
With this latest investment and more funding in the pipeline, Bonkoungou is deepening his presence in Togo, leveraging his expertise in construction to expand into agribusiness, finance, and mobility services. His growing influence in agriculture and infrastructure underscores his role as a major player in West Africa’s economic landscape.
