The withdrawal of the Republic of Congo, who had announced his intention to contribute 15 million euros to the capital of Corsair before changing his mind at the end of July, had raised doubts about the company's ability to recover.
She needs, a minima, the injection of 30 million in new money, in addition to the cancellation of 100 million debts by the State, to hope for better days. At the end of the last financial year (October 2022-September 2023), Corsair recorded a loss of 37 million euros, after a hole of 114 million during the previous financial year. Pascal de Izaguirre, Chairman and CEO of Corsair, aims for a return to balance in 2023-2024, but he needs to find solid arguments to reassure the European Commission, who doubts its long-term viability.
He found a new shareholder still in Africa. Last September 9, the company announced the increase in its capital of a small shareholder who becomes large : Abbas Jaber, which had entered at 4% in the 2020 funding round, when predominantly West Indian interests had saved Corsair for the first time. The Lebanese-Senegalese businessman also holds French nationality, agrees to inject 15 million euros, which gives him 40% of the company's shares. “His previous commitment and his perfect knowledge of Africa had already contributed to our dynamism, comments Pascal de Izaguirre. His return as a direct shareholder, with substantial participation, not only demonstrates its continued interest in Corsair, but also its confidence in the business and development strategy that we are taking. » Active in several industrial sectors both in West Africa and mainland France, also passionate about aviation, Abbas Jaber says he believes “in the development that Corsair is leading in Africa, offering the company a significant growth lever”.
