Economy & Politics

Ivory Coast: NSIA Bank opens a 30.5 million euro financing line for SMEs

The Minister for the Promotion of SMEs of Côte d’Ivoire, Anoblé Félix, and the Managing Director of Nsia Banque Côte d’Ivoire, Léonce Yacé

Ivorian small and medium-sized enterprises (SMEs) can take a sigh of relief with this new contribution from Nsia Banque Côte d´Ivoire. The institution has entered into a partnership with the Ministry for the Promotion of SMEs to open a financing line of 30.5 million euros aimed at boosting their activities.

In line with the Phoenix program (financial and technical support mechanism for SMEs), this funding was recorded by the signing of an agreement on December 1, 2020 between the Minister for the Promotion of SMEs, Anoblé Félix, and the CEO of Nsia Bank, Léonce Yacé.

With an interest rate of 7 to 7.5% for a repayment period of four years, this line of credit also takes into account enterprising women who will benefit from a share of seven billion F CFA. The spokesperson for the unique platform for SMEs, Dr Diomandé Elias Farakhan, welcomed this gesture made possible thanks to the partnership between the government and this bank. Director General Léonce Yacé continued in this same dynamic, adding that his institution will always be ready to support the government in its economic development.

“I remain convinced that we will succeed in our bet to place our country in the perspective of a new glorious period through the harmonious development of our companies”, for his part underlined Minister Félix Anoblé.

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