The International Finance Corporation (IFC) has invested $77m in a risk-sharing facility for the Bank of Africa Group, aiming to increase lending to small and medium-sized enterprises (SMEs), including women-owned businesses, in Ghana, Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, Tanzania, Togo, and Madagascar. The investment is expected to guarantee BOA Group 50% of a loan portfolio up to $154m, which will be distributed to businesses in the agriculture, trade, energy, construction, and other sectors. The investment is also supported by the Global SME Finance Facility (GSMEF) and Women Entrepreneurs Finance Initiative (We-Fi) among others.