Cofina Mali

Subsidy : November 2021 - May 2022

BIO has granted EUR 4,185 of technical assistance to Cofina Mali, a microfinance institution in Mali.

Amount

€ 4,185.00

Type of investment

Subsidy

Beneficiary locations

Sub-Saharan Africa: Mali

Investment field

Financial Institutions

Activity

KK.64.191 Microfinance institution

Organisation

Cofina Mali

Website

https://www.cofinamali.com/

Domicile

Mali

More investments in

Cofina Mali

Debt € 3,000,000.00 (2021)

Cofina is a young pan-African mesofinance group. Following the 2019 investments into the Ivorian and the Senegalese subsidiaries, BIO has the opportunity to support Cofina Mali, which is less mature and is operating in a complex market with low financial inclusion.

Technical Assistance

This technical assistance is aimed at the social audit of Cofina Mali. This audit will enable the subsidiary to discover the framework of universal social performance management standards and integrate them into their operations.

Expected impact

The results of the SPI4 audit can not only be used as a social declaration, it can be used to improve their social performance management and the respect of their client protection principles as well, but also to engage with stakeholders and meet social reporting obligations.