The African Development Bank Group has agreed a €30 million financing package with Bridge Bank Group Côte d’Ivoire to boost the growth of small and medium-sized enterprises (SMEs) in the country, with a strong emphasis on supporting women-led businesses.
Signed on 19 September in Abidjan, the new partnership aims to channel funds into key sectors of the Ivorian economy, including agro-industry, industrial production, education and healthcare. It is designed to help SMEs access the capital they need to expand while also strengthening the bank’s trade finance capabilities. According to the National Statistics Agency, SMEs make up a significant share of Côte d’Ivoire’s formal business sector and remain vital to its economic development.
The €30 million agreement is split into three main components: a €10 million subordinated loan to reinforce Bridge Bank Group Côte d’Ivoire’s capital base, a €10 million trade finance guarantee to support import and export activity, and a €10 million portfolio guarantee focused on women-owned and women-led enterprises.
“The financing contribution constitutes an essential dimension of this partnership. The emphasis on strengthening SME capacities is equally decisive. This involves supporting women entrepreneurs in realizing their potential and accompanying enterprises in their access to markets. This dual support contributes directly to our priorities in terms of financial inclusion, gender equality, private sector development and regional integration, while aligning with the National Private Sector Development Plan,” said Ahmed Attout, Director of the Financial Sector Development Department at the African Development Bank.
Bridge Bank Group Côte d’Ivoire will also gain technical support from the Affirmative Finance Action for Women in Africa (AFAWA) initiative. The programme will provide guidance on designing financial products tailored to the specific needs of women entrepreneurs, helping them better access credit and grow their businesses.
“This partnership is at the heart of our mission to increase financing for women-owned or women-led SMEs. The guarantee, supported by the Women Entrepreneurs Finance Initiative (We-Fi), targets women entrepreneurs active in key sectors such as local transformation and essential social services. It will unlock up to €20 million in direct financing for them. In parallel, AFAWA technical assistance will refine understanding of women entrepreneurs’ specific needs in order to adapt banking products and services to their expectations,” specified Melissa Basque-Roux, AFAWA coordinator within the Bank Group.
“This strategic agreement with the African Development Bank Group marks an important milestone in our mission to support the development of the national economy. By strengthening our capacity to finance SMEs, particularly those led by women, we affirm our commitment to inclusive and sustainable growth, aligned with the priorities of the National Development Plan,” said Ehouman Kassi, General Manager of Bridge Bank Group.
The financing deal reflects a wider effort to boost private sector growth in Côte d’Ivoire by improving access to finance for SMEs, particularly those driving innovation and job creation.
