Orange Bank Africa, the fully digital bank headquartered in Abidjan, has forged two strategic partnerships with Côte d’Ivoire’s Société de Garantie des Crédits aux Petites et Moyennes Entreprises (SGPME) to unlock fresh financing avenues for local businesses.
The agreements, signed in Abidjan, pave the way for up to FCFA 17 billion in credit facilities earmarked for Ivorian SMEs, VSEs, and mid-sized enterprises, including a dedicated FCFA 4 billion tranche exclusively for women-led ventures.
Speaking at the signing ceremony, Audrey Koffi, CEO of Orange Bank Africa, emphasized the bank’s mission to empower economic builders. ‘The biggest hurdle for most entrepreneurs isn’t market access or innovative ideas—it’s securing financing.’ She highlighted the critical role of partnerships like this one in bridging funding gaps, particularly for women. ‘In Côte d’Ivoire, women are driving entrepreneurship. We’re committing FCFA 4 billion in credit lines for women, backed by SGPME guarantees up to 70%.’
The bank disburses approximately FCFA 20 billion in loans monthly, underscoring its commitment to digital financial inclusion across West Africa. With these new agreements, Orange Bank Africa reinforces its strategy to make digital financing a catalyst for economic growth.
Joëlle Kouassi, CEO of SGPME, echoed this vision, noting that the partnership aims to reduce the financing divide. ‘Traditional lenders often demand collateral that many SMEs lack. Here, SGPME steps in as a guarantor, covering up to 70% of the risk, reducing barriers for businesses seeking credit.’ She acknowledged that while the funds won’t meet all needs, they mark a meaningful step forward.
Established by the Ivorian government, SGPME’s core mandate is to ease access to finance for SMEs. The collaboration with Orange Bank Africa, supported by multilateral partners, delivers on that goal by mobilizing FCFA 17 billion to fuel the ambitions of Côte d’Ivoire’s small business sector.
This milestone also coincides with the sixth anniversary of Orange Bank Africa, a milestone for the digital-only institution as it continues to democratize financial services and deepen inclusion in the region.
