Orange Bank Africa, a fully digital bank headquartered in Abidjan, has formalized two strategic partnerships with the Société de Garantie des Crédits aux Petites et Moyennes Entreprises (SGPME), an Ivorian state-backed entity dedicated to supporting small and medium-sized enterprises. The agreements, signed in the economic capital of Côte d’Ivoire, will unlock financing totaling up to 17 billion FCFA for local businesses, including a dedicated 4 billion FCFA allocation for women entrepreneurs.
Breaking down barriers to access finance for Ivorian businesses
Audrey Koffi, Chief Executive Officer of Orange Bank Africa, emphasized the urgent need to address the most pressing challenge faced by Ivorian entrepreneurs: securing capital. “Our mission is to empower those building the nation’s economy. While market opportunities and innovative ideas abound, many business owners struggle to access the funding they need to grow,” she stated during the signing event. “This is why SGPME and we have joined forces to create solutions that remove financial obstacles, particularly for women-led enterprises.”
Koffi highlighted the bank’s monthly credit disbursement of approximately 20 billion FCFA across the region, underscoring its commitment to digital financial inclusion. “With this new agreement, we’re channeling 4 billion FCFA specifically toward women entrepreneurs. The beauty of this partnership is that SGPME provides a credit guarantee of up to 70%, significantly reducing the risk for financial institutions.”
SGPME steps up to guarantee 50% to 70% of credit risk
Joëlle Kouassi, General Manager of SGPME, explained the mechanism behind the collaboration: “Traditionally, when a small business approaches a lender, it must provide collateral. Our role is to step in as a guarantor, covering between 50% and 70% of the credit risk demanded by banks. This reduces the burden on entrepreneurs while encouraging lenders to extend more financing.”
Kouassi acknowledged that while 17 billion FCFA is a substantial amount, it represents only a fraction of the total financing needs of Côte d’Ivoire’s small businesses. “Our goal is to narrow the financing gap, not eliminate it entirely. This initiative marks a meaningful advancement in our mission to foster a more inclusive economic landscape.”
A digital-first approach to economic empowerment
Founded six years ago on July 23rd, Orange Bank Africa continues to champion digital banking as a catalyst for economic growth across West Africa. By streamlining credit access and reducing bureaucratic hurdles, the institution aims to democratize financial services and support the development of small businesses—especially those led by women—who are vital to Côte d’Ivoire’s economic fabric.