Orange Bank Africa, a fully digital bank headquartered in Abidjan, has forged two landmark partnerships this week with Côte d’Ivoire’s Société de Garantie des Crédits aux Petites et Moyennes Entreprises (SGPME), an institution established by the Ivorian government to bolster financing for small and medium-sized enterprises.
These agreements will unlock up to 17 billion FCFA in credit lines exclusively for very small enterprises (VSEs), small and medium-sized enterprises (SMEs), and intermediate-sized companies (ETIs) operating in Côte d’Ivoire. Notably, 4 billion FCFA of this allocation is earmarked to empower women-led businesses, reinforcing the country’s push for gender-inclusive economic growth.
Breaking down barriers to finance for Ivorian entrepreneurs
Speaking at the signing ceremony, Audrey Koffi, CEO of Orange Bank Africa, emphasized the critical role these partnerships will play in addressing the most pressing challenge faced by local businesses: access to financing. “We recognize that many entrepreneurs in Côte d’Ivoire excel in innovation and market reach, yet their greatest hurdle remains securing the capital needed to scale their operations,” she stated.
“Through these agreements, we’re introducing dedicated credit lines for women entrepreneurs—one of the fastest-growing segments in Ivorian business. Each month, our bank disburses approximately 20 billion FCFA in loans, and with this collaboration, we’re committing 4 billion FCFA specifically to support women-owned enterprises,”
The partnerships also significantly reduce the credit risk for lenders. “With SGPME guaranteeing up to 70% of the loan value, banks can confidently extend financing to businesses that might otherwise struggle to meet collateral requirements,” Koffi added.
How the partnerships work to fuel growth
Joëlle Kouassi, CEO of SGPME, highlighted the transformative potential of these initiatives. “Traditionally, SMEs face steep barriers when seeking loans, as financial institutions often demand high-value guarantees they can’t provide. Our role is to step in as a guarantor, covering a minimum of 50%—and up to 70%—of the credit risk,” she explained.
“While 17 billion FCFA won’t solve all financing gaps for Ivorian businesses, it’s a meaningful step toward closing the divide. Our goal is to make credit more accessible, ensuring that entrepreneurs—regardless of size or sector—can thrive,” Kouassi noted.
The partnerships are further strengthened by backing from international development agencies, including France’s development agency and the World Bank, underscoring the global confidence in Côte d’Ivoire’s economic trajectory.
Driving digital finance in West Africa
Founded on the principles of accessibility and innovation, Orange Bank Africa is celebrating its sixth anniversary this July. As a pioneer in digital banking across West Africa, the institution is committed to democratizing financial services and deepening financial inclusion for underserved populations.
