Côte d’Ivoire is expanding access to finance for small and medium-sized enterprises (SMEs) after the West African Development Bank (BOAD) approved a CFAF 10 billion, approximately US$14.3 million, refinancing facility for COFINA Côte d’Ivoire.
The financing was approved during the BOAD’s 152nd Board of Directors meeting on 24 September 2026 and is designed to strengthen COFINA Côte d’Ivoire’s capacity to provide medium-term financing to businesses.
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For a country seeking to deepen private-sector growth and broaden financial inclusion, improving access to appropriate financing remains important. SMEs play a significant role in employment, entrepreneurship and economic activity, but many businesses continue to face challenges obtaining financing that matches their investment and expansion needs.
Expanding Access to Business Capital
The BOAD-backed facility will enable COFINA Côte d’Ivoire to increase its capacity to finance businesses, particularly through medium-term funding.
Access to longer-term capital can be important for companies seeking to invest in equipment, expand operations, improve production capacity or develop new services. Unlike short-term working capital, medium-term financing can give businesses greater room to plan investments and manage repayment over a longer period.
The facility therefore has the potential to support businesses beyond immediate liquidity needs, particularly as Ivorian enterprises seek to scale their operations.
Supporting Women Entrepreneurs
The financing also has a broader inclusion dimension, with support expected to reach women entrepreneurs.
Women-led businesses across Africa frequently encounter financing constraints, despite their contribution to employment and local economic activity. Increasing access to formal financial services and suitable business capital can help entrepreneurs invest, expand and create additional opportunities within their communities.
For Côte d’Ivoire, directing part of the financing towards women entrepreneurs could contribute to a more inclusive private sector while strengthening the participation of women in business growth.
Financing Green Projects
The facility is also intended to support green projects, linking SME financing with the growing need for sustainable investment.
Businesses increasingly face pressure to adopt more efficient technologies, reduce resource consumption and develop environmentally sustainable operations. However, the upfront cost of such investments can be a barrier, particularly for smaller companies.
Financing facilities that incorporate green investment can help businesses access capital for projects that improve efficiency while supporting broader sustainability objectives.
The new facility comes as Côte d’Ivoire continues to attract investment and develop its private sector. Financial institutions such as COFINA can play an important role in connecting businesses with the capital required to turn expansion plans into productive investments.
BOAD’s involvement also demonstrates the role that regional development finance can play in strengthening local financial institutions and widening access to capital.
For SMEs, the impact will ultimately depend on how effectively the financing reaches businesses and whether entrepreneurs can access it on terms that support sustainable growth.
If effectively deployed, the CFAF 10 billion facility could provide additional financing capacity for Ivorian enterprises while supporting entrepreneurship, women’s economic participation and green investment. It represents another step towards building a more accessible and diversified financing ecosystem for Côte d’Ivoire’s private sector.
