Orabank Côte d'Ivoire

Debt : February 2016 - December 2022

BIO has granted a € 10 M loan to Orabank Côte d'Ivoire, a commercial bank with a focus on SMEs, active in Sub-Saharan Africa.

Amount

€ 10,000,000.00

Type of investment

Debt

Development impacts

Local economic growth
Private sector consolidation/innovation
Financial inclusion

Beneficiary locations

Africa: Burkina Faso, Côte d'Ivoire, Guinea, Mali, Niger, Senegal

Investment field

Financial Institutions

Activity

KK.64.190 Commercial banking

Organisation

Orabank Côte d'Ivoire

Website

https://www.orabank.net/fr/filiale/cote-divoire

Domicile

Cote d'Ivoire

Orabank Côte d’Ivoire is one of the latest acquisition from Oragroup (former BRS). It is a universal bank serving all types of clients with a focus on SMEs. Thanks to a “licence unique”, it is active in the 8 countries of the WAEMU region.

Orabank Côte d’Ivoire (“Orabank CI", formerly known as "BRS") is active in the following 6 countries: Ivory Coast, Senegal, Burkina Faso, Mali, Niger and Guinea Bissau. Orabank CI is a subsidiary of Oragroup since December 2013.
Orabank Côte d’Ivoire is a universal bank offering traditional banking products to its retail, SME and corporate clientele. The main products offered to customers are traditional and include current and savings accounts, term deposits, money transfer (partnership with key players in this area such as Western Union and MoneyGram), vehicle finance, guarantees, export credits, investment loans, but some products are as well innovative for the region, for instance, VISA credit cards, SMS and internet Banking (currently being extended), real estate finance (also for retail customers), etc...

Development impacts

Local economic growth
This financing will promote economic growth and support SME financing. BIO’s investment will enable to finance 90 to 135 SMEs in Côte d’Ivoire, Senegal and Burkina Faso - supporting 900-1350 jobs.
Private sector consolidation/innovation
The effect of the loan will be to develop the SME franchise and develop this approach, especially towards specific sectors such as agriculture, etc.
Financial inclusion
The loan aims to improve access to finance (through deposit mobilization and credit allocation) with a focus on SME’s and the refinancing of MFIs in the region