The Netherlands-based cooperative Oikocredit recently agreed to lend EUR 3 million (USD 3.3 million) to Witti Finances, which is active in Burkina Faso and Côte d’Ivoire,
Tag: Côte d'Ivoire
MICROCAPITAL BRIEF: Orange, NSIA Establish Orange Bank Africa in Côte d’Ivoire, Offering Mobile Banking Services, Eyeing Expansion in West Africa
France-based telecommunications company Orange recently partnered with NSIA Group, a firm in Côte d’Ivoire that specializes in bancassurance, to establish Orange Bank Africa in the city of Abidjan. Orange Bank Africa offers both microcredit and savings services through mobile phones via the Orange Money service. The minimum loan size is XOF 5,000 (USD 9), and the minimum deposit transaction is XOF 1,000 (USD 2). Savings balances up to XOF 10 million (USD 18,000) earn an annualized interest of
MICROCAPITAL BRIEF: FMO Loans $14m to COFINA for Microfinance, SMEs in Senegal, Côte d’Ivoire
The Netherlands Development Finance Company, which is also known by its Dutch acronym FMO, recently disbursed a loan to Guinea-based microfinance group Compagnie Financiere Africaine (COFINA) to be distributed to its subsidiaries in Senegal and Côte d’Ivoire. Of the loan proceeds, EUR 7.5 million (USD 8.2 million) is flowing to COFINA Senegal, and EUR 5 million (USD 5.5 million) is going to COFINA Côte d’Ivoire, which is