In a bold step toward economic empowerment, the International Finance Corporation (IFC) is making it easier for small businesses—especially those owned and led by women—to access much-needed funding.
Through strategic partnerships with three top banks in Côte d'Ivoire, IFC is injecting millions into the country's entrepreneurial ecosystem, ensuring that businesses get the financial support they need to grow, create jobs, and drive economic progress.
During his visit to Abidjan, Sérgio Pimenta, IFC's Vice President for Africa, sealed the deal on two major investments and an advisory program with Société Générale Côte d'Ivoire (SGCI), Société Ivoirienne de Banque (SIB), and Bridge Bank Group Côte d'Ivoire (BBGCI). These partnerships aren't just about numbers—they're about changing lives, breaking barriers, and unlocking opportunities for Ivorian entrepreneurs who have long struggled with access to finance.
What This Means for Small Businesses in Côte d'Ivoire
A $25.8 Million Boost for SMEs Through SGCI
IFC is launching a XOF 16.3 billion ($25.8 million) risk-sharing facility (RSF) with SGCI to help reduce lending risks and encourage more loans for small businesses.
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With this initiative, SGCI will be able to finance around 450 SMEs by 2029, opening doors for business owners to expand, hire more employees, and contribute to the nation's economy.
Recognizing the challenges women entrepreneurs face in securing funding, at least 25% of these loans will be directed toward women-owned and women-led businesses (WSMEs).
"For SGCI, supporting women's entrepreneurship is more than just a financial commitment—it's a social and economic necessity. Inclusive growth is the future," said Patrick Blas, Managing Director of SGCI.
A $10 Million Funding Opportunity for Key Sectors Through SIB
SIB will benefit from a XOF 6 billion ($10 million) risk-sharing facility, covering half of the risk on a total loan portfolio of XOF 12 billion ($20 million).
This initiative will fuel businesses in key industries such as trade, agriculture, water and sanitation, communication, transport, and forestry—sectors that are vital to Côte d'Ivoire's development.
"This partnership is more than financing—it's about strengthening the backbone of our economy. We are committed to helping entrepreneurs, especially women, access the capital they need to succeed," said Mohamed El Ghazi, Managing Director of SIB.
A Strategic Makeover for BBGCI's SME Banking
Beyond direct funding, IFC is also stepping in with advisory support for Bridge Bank Group Côte d'Ivoire (BBGCI) to help refine its SME banking model, expand its financial products, and streamline operations.
This builds on a $40 million risk-sharing facility announced in July 2024, which aims to support more than 2,100 SME loans by 2028.
"Women entrepreneurs are a powerhouse of economic transformation. Yet, gender biases continue to limit their financial opportunities. At Bridge Bank Group, we are committed to reversing this trend by developing tailored financial solutions, mentorship programs, and accessible credit options," said Ehouman Kassi, Managing Director of BBGCI.
For small business owners in Côte d'Ivoire, getting a loan has often felt like an uphill battle. In fact, 78% of SMEs cite lack of financing as their biggest obstacle, according to WBG Enterprise Surveys. IFC's new partnerships will help bridge this gap, ensuring small businesses not only survive but thrive.
"These projects reinforce IFC's dedication to Côte d'Ivoire's economic growth. By addressing financing challenges, we are enabling small businesses to expand, create jobs, and compete in new markets," said Sérgio Pimenta, IFC Vice President for Africa.
This initiative is part of IFC's Small Loan Guarantee Program (SLGP), designed to de-risk lending for SMEs in fragile and underserved markets. The program is backed by the IDA IFC-MIGA Private Sector Window's Blended Finance Facility, ensuring sustainable financial solutions for entrepreneurs.
With a staggering $761 million investment portfolio in Côte d'Ivoire, IFC is leading transformative projects across affordable housing, agriculture, infrastructure, healthcare, creative industries, and SME financing—cementing its role as a key driver of economic progress in the WAEMU region.
What's Next?
For Côte d'Ivoire's entrepreneurs, these investments mark the beginning of a new era of financial empowerment. As barriers to funding come down, more small businesses will gain the stability they need to flourish, innovate, and compete on a larger scale.
With IFC and its banking partners paving the way, the future looks brighter for Ivorian entrepreneurs—especially for the women who are reshaping the country's business landscape.
