Compagnie Africaine de Crédit
BIO has granted EUR 20 k of technical assistance to the Compagnie Africaine de Crédit, also known as Cofina Côte d'Ivoire.
Amount
€ 19,789.00
Type of investment
Subsidy
Beneficiary locations
Investment field
Financial Institutions
Activity
Cofina is a young pan-African mesofinance group.
Cofina started its activities in 2014 and is now one of the leading MFIs in 4 of its 6 countries. Cofina was initially focusing its activities on income generating loans and guarantees to unbanked MSMEs. In 2016, it started to deploy retail activities providing current accounts, savings accounts, notes, bank cards, online transfer services, insurance products to its clients who were usually excluded from formal financial services.
Technical assistance
The technical assistance is aimed at the creation of an Environmental and Social Management System (ESMS). This ESMS will assess, mitigate, document and monitor environmental and social risks associated with the Cofina Group's financing activities.
Expected impact
The creation and follow-up of the ESMS will allow for a better understanding of the CSR issues related to the Cofina Group's activities, implement E&S tools and procedures within the institution, map the E&S risks and serve as a tool for sustainable management.
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Equity
