The Board of Directors of the International Finance Corporation (IFC), a subsidiary of the World Bank, has approved the granting to BMCE Bank of Africa (BOA) of a risk-sharing facility (RPF) of a total amount of $ 60 million. A loan to support SME financing.
This will include SMEs from ten African countries in the fortnight where the bank is present (Burkina Faso, Côte d’Ivoire, DR Congo, Ghana, Madagascar, Mali, Niger, Senegal, Tanzania and Togo). In concrete terms, it is hundreds of SMEs from these target countries and customers of the BOA group that will have to benefit, over a five-year horizon, from $ 120 million in various credits.
The loan comes 10 years after a first disbursement by the IFC, which had granted 70 million euros to the pan-African bank in the form of subordinated debt.
In 2017, BOA Group posted a net income group share of 76 million euros, which represents a little over 40% of the consolidated profit share of the BMCE Bank of Africa group at the end of the past financial year.
