COMPAGNIE FINANCIERE AFRICAINE COTE
Status: Approved investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
COFINA Côte d’Ivoire is a young microfinance institution providing financial products and services customised for MSMEs whose needs are too large for smaller MFIs and whose structure is too informal or risky for commercial banks; thereby targeting the “missing-middle”.
What is our funding objective?
The loan facility to COFINA Côte d’Ivoire will support on-lending to women micro-entrepreneurs, young entrepreneurs and SMEs, which is fully aligned with FMO’s strategic goal of Reducing Inequalities and SDG 8.
Why do we fund this investment?
The transaction is the 2nd deal pursued with the COFINA Group and will also be the second FI-AF loan in Côte d’Ivoire. Even though Côte d’Ivoire has maintained a strong economic growth rate in the last years, close to one person out of two still live below the national poverty line. The bulk COFINA Côte d’Ivoire portfolio is dedicated to MSME funding, our loan will thereby drive financial inclusion, which is critical in reducing poverty and achieving inclusive economic growth. On top of that, COFINA Côte d’Ivoire belongs to the COFINA Group, which has the ambition of becoming the Pan African mesofinance leader. FMO is willing to build a long-term relationship with the Group as a whole.
What is the Environmental and Social categorization rationale?
COFINA Côte d’Ivoire is classified as Cat. C. Deal team has identified no high-risk exposures in the loan portfolio of the client.
More investments
| Date | Total FMO financing |
|---|---|
| 7/20/2023 | EUR 5.00 MLN |
- Website customer/investment
- http://www.cac-ci.com
- Region
- Africa
- Country
- Côte d'Ivoire
- Sector
- Financial Institutions
- Effective date
- 6/4/2020
- Total FMO financing
- EUR 2.50 MLN
- Funding
- MASSIF
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C