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.
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NSIA Banque Côte d’Ivoire’s credit rating upgraded
NSIA Banque Côte d’Ivoire has had its credit rating upgraded by Bloomfield Investment, citing strong credit quality, high certainty of timely repayment, and strong liquidity factors. This upgrade is due to the bank’s successful implementation of its strategic plan “Altitude 22-26”, which included reducing non-performing loans, increasing activity indicators, and compliance with regulations. The bank plans to continue its strategy to achieve its goals for 2023.
Categories: Banks