Orange Bank Africa and SGPME boost 17 billion FCFA funding for Ivorian SMEs

Partnership to unlock 17 billion FCFA for Côte d’Ivoire’s small businesses

Orange Bank Africa, a fully digital bank headquartered in Abidjan, has sealed two groundbreaking agreements with Côte d’Ivoire’s Société de Garantie des Crédits aux PME (SGPME)—an institution established by the Ivorian government to bolster financing for small and medium-sized enterprises. The partnerships aim to mobilize up to 17 billion FCFA in credit facilities, targeting très petites entreprises (TPE), PME, and ETI across the country, with a dedicated 4 billion FCFA allocation reserved exclusively for women-led businesses.

Audrey Koffi, Chief Executive Officer of Orange Bank Africa, highlighted the critical role of accessible financing in driving economic growth during the signing ceremony. “The backbone of any economy is built by entrepreneurs. While market opportunities and innovative ideas abound, the biggest hurdle for most businesses remains securing funding. This is why SGPME and we have joined forces to launch these initiatives, placing special emphasis on empowering women entrepreneurs,” she noted.

She further explained that Orange Bank Africa disburses approximately 20 billion FCFA in loans monthly, underscoring its commitment to digital financial inclusion. “With this new agreement, we’re earmarking 4 billion FCFA specifically to support women-led ventures. The SGPME’s backing—covering up to 70% of the credit risk—will make it far easier for these entrepreneurs to access the capital they need,” Koffi added.

Joëlle Kouassi, CEO of SGPME, reiterated the partnership’s mission to bridge the financing gap for Ivorian businesses. “Traditionally, banks require borrowers to provide collateral before approving loans. Our collaboration with Orange Bank Africa changes that by sharing the credit risk, reducing the burden on entrepreneurs.” She emphasized that SGPME’s guarantee covers a minimum of 50% up to 70% of loan amounts, ensuring broader access to capital.

Kouassi acknowledged the scale of the challenge: “While 17 billion FCFA won’t address every funding need in the market, it’s a meaningful step forward in narrowing the financial divide for SMEs.” She also confirmed that SGPME was created by the Ivorian state to streamline financing for small businesses, aligning with national economic development goals.

This initiative builds on the support of international partners, including the Agence Française de Développement and the World Bank, reinforcing Côte d’Ivoire’s push for inclusive economic growth.

On the same day, Orange Bank Africa celebrated its sixth anniversary as a 100% digital banking institution. Committed to democratizing financial services, the bank continues to expand its reach across West Africa, empowering individuals and businesses through innovative digital solutions.