What Cofina Ivory does

COFINA Côte d'Ivoire is the Ivorian subsidiary of Groupe COFINA (Compagnie Financière Africaine), a pan-African financial institution founded in 2014 and headquartered in Abidjan that operates in the mesofinance segment — the 'missing middle' between microfinance and traditional bank lending, primarily serving SMEs and individuals underserved by commercial banks. COFINA Côte d'Ivoire has cumulatively served nearly 92,000 customers, financed more than 18,000 projects, and injected more than 256 billion FCFA into the Ivorian economy since inception. The company offers a full stack of credit products (consumer credit 500K–15M FCFA at up to 1.5%/month, investment credit 1M+ FCFA at up to 18%/year, working capital credit, invoice discounting, spot credit, and check advances), tiered savings products (Épargne libre at 3.75%, Épargne projet and DAT up to 7–7.5%), tiered account packs (Pack Akwaba eco through Pack Privilège+ for individuals and Pack Classic+ through Pack Premium+ for enterprises), and complementary offerings including Coficarte (co-branded VISA prepaid card), Cofi Immo (real-estate financing for 151 lots in Bingerville and Songon via LOGILIS/ACD partnerships), Auto'Assur (vehicle insurance), and money transfer services through WAVE, RIA, Western Union, Wari, and Moneygram. Distribution combines physical branches across nine communes of Abidjan plus secondary cities (Soubré, Duékoué, San-Pédro, Korhogo), a Chargés d'Affaires field-sales force, and digital channels including the COFINA Mobile+ web/mobile app, USSD-based FAST PAY, SMS Banking, and integration with Orange Money, MTN Money, Moov Money, and Wave.

The technology platform runs on a Flexcube-equivalent core banking system with mobile and USSD front-ends and payment-gateway routing via CinetPay; COFINA Mobile+ provides 24/7 account management, transfers, mobile money reloading, and airtime purchases. The business model is primarily net-interest-margin driven, with fee income from account services, credit file processing (up to 3%), card issuance, and insurance commissions. Recent product expansion includes the July 2024 launch of COFIMBA (joint equipment-financing solution with Neemba targeting BTP/industrial SMEs) and the June 2026 launch of Mésfinance Diaspora, a fully digitalized financing offer for Ivorian expatriates deployed through the COFINA Services France subsidiary (ACPR-licensed) under a two-year renewable framework convention with the Ministry of Ivorians Abroad. Leadership includes Amed Sié TOURE (Director General of COFINA Côte d'Ivoire), Jean Luc KONAN (President-Director General of Groupe COFINA), and Evelyne ADOU (Deputy Director General).

Name

Cofina Ivory

Legal name

Cofina Côte d'Ivoire

Website

https://cofinacotedivoire.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cofina Ivory is the Ivorian subsidiary of Groupe COFINA, a pan-African mesofinance institution founded in 2014 in Abidjan. It provides credit, savings, payments, and digital banking to SMEs and individuals underserved by traditional banks across eight African countries and France.

Ownership category

akta.pro rank

Headquarters

HQ city

Abidjan

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income on Loans: Primary revenue stream from meso-credit extended to individuals and SMEs. COFINA offers various credit products including consumer credit (up to 15,000,000 FCFA, 12-36 months, up to 1.5%/month declining), investment credit (12-60 months, up to 18%/year), working capital credit (up to 18 months, 18%/year), invoice discounting, advance on purchase orders, advance on checks, spot credit, and DAT (deposit at term, up to 7% remuneration). Interest income constitutes the core earnings.
2. Account Management and Service Fees: Fees from account maintenance (Coficarte costs 10,000 FCFA), document fees, file processing fees (up to 3% on credit files), and various product subscription fees. Some services have zero fees (e.g., savings account management), creating cross-sell opportunities for credit products.
3. Savings (Deposit Taking): Cofina collects deposits through savings products including libre savings (3.75% rate), project savings (up to 7%), and DAT (up to 7-7.5%). These deposits fund lending activities. The spread between lending rates (up to 18%/year) and savings rates (up to 7.5%) generates net interest margin.
4. Insurance Products (Auto'Assur): Credit-linked insurance products such as Auto'Assur (vehicle insurance payable in cash or on credit) through partnerships. Revenue from insurance commissions.
5. Diaspora Services: Through COFINA Services France subsidiary, services for Ivorian diaspora including savings and money transfer facilitation. The diaspora convention (June 2026) aims to redirect diaspora remittances toward productive investment in Côte d'Ivoire.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels8 records

Core offering

Cofina Ivory is a mesofinance institution extending credit, savings, payment, insurance, and money transfer services to individuals and SMEs/PMEs in Côte d'Ivoire. The institution bridges the 'missing middle' between microfinance and traditional banking, offering consumer and SME credit products (consumer credit, investment credit, working capital, invoice discounting, check and purchase order advances), deposit products (Épargne Libre, Épargne Projet, DAT, Épargne Prêt), digital banking tools (COFINA Mobile+, SMS Banking, USSD FAST PAY, Coficarte VISA prepaid card), and partnership-driven offers (Cofi Immo real estate financing, COFIMBA equipment financing, MÉSOFINANCE Diaspora). Distribution combines a multi-city physical branch network with field-based Chargés d'Affaires and digital channels including mobile app, USSD, SMS, and integrations with Orange Money, MTN Money, Moov Money, and Wave.

Product overview

Cofina Ivory operates as a mesofinance institution providing financial services to individuals and SMEs/PMEs. The core offering centers on COFINA Mobile+, a web and mobile banking application enabling account management, transfers, and mobile money reloads. The company offers prepaid cards (Coficarte), SMS Banking, and money transfer services through partners. For individuals, there are tiered account packages (Pack Akwaba eco, Akwaba+, Croissance+, Privilège+) with varying credit limits, savings products (Épargne libre, Épargne projet, DAT, Epargne prêt), consumer credit, and specialized offerings like Cofi Immo for land financing and Auto'Assur for vehicle insurance. For businesses, the company provides enterprise account packages (Pack Classic+, Business+, Gold+, Premium+), working capital and investment credits, invoice discounting, check advances, and signature commitment products. Recent offerings include Mésofinance Diaspora for Ivorian expatriates, COFIMBA equipment financing with Neemba, and FAST PAY USSD account loading.

Differentiator

Problem solved

Functional benefit

Products and services

• COFINA Mobile+ COFINA Mobile+ is a web and mobile banking application that enables customers to manage their accounts remotely, check balances, view transaction history, transfer funds, reload mobile airtime and mobile money wallets (Orange Money, MTN Money, Moov Money, Wave), and access e-coficash services 24/7.
• Coficarte Coficarte is a co-branded VISA prepaid card issued in partnership with UBA-CI (United Bank for Africa Côte d'Ivoire) or BNI (Banque Nationale d'Investissement), enabling online purchases, ATM withdrawals, and TPE purchases with reload capability from 550 FCFA at all Cofina branches. Card price is 10,000 FCFA with 3-year validity.
• Produits de transfert (Money Transfer) Money transfer products enabling customers to send and receive money worldwide through integrated partners including WAVE, RIA, Western Union, Wari, MoneyGram, Orange Money, and MTN Money.
• Auto'Assur Auto'Assur is a car insurance product offered by Cofina, allowing vehicle owners to insure vehicles for a year with payment options available upfront or on credit.
• Cofi Immo Cofi Immo is a real estate financing offer for acquiring semi-serviced land plots in partnership with Logilis and ACD, covering 151 lots in Bingerville (51 lots) and Songon (100 lots) with financing up to 84 months (7 years), parcel sizes 250–450 m².
• Crédit Consommation (Consumer Credit) Personal consumption credit with amounts ranging from 500,000 to 15,000,000 FCFA, terms of 12–36 months, interest rates up to 1.5% per month on declining balance, and 3% file fees. Includes monthly repayment schedule.
• Épargne Libre Flexible savings account with 10,000 FCFA opening deposit, 3.75% interest rate, and no account management fees, allowing deposits and withdrawals based on balance.
• Épargne Projet Project-oriented savings account with minimum monthly savings of 10,000 FCFA, earning up to 7% interest with quarterly interest calculation and no opening, management, or closure fees.
• DAT (Dépôt à Terme) Term deposit product allowing funds to be locked for a determined period at a pre-agreed interest rate, with minimum opening deposit of 500,000 FCFA and rates up to 7% (up to 7.5% per the simulator). Minimum 6 month duration.
• Épargne Prêt Savings-loan product that enables clients to build savings over at least six months (minimum 30,000 FCFA/month) to access credit up to 300% (3x) of their saved amount.
• Mésofinance Diaspora Specialized financing offer for the Ivorian diaspora to facilitate access to financing and productive investment, featuring personalized project structuring support, financial products adapted for non-residents, and a fully digitalized customer journey for account opening, credit monitoring, and flux management at distance.
• Le Crédit Investissement Investment credit product for businesses seeking to invest in increasing company performance, with terms of 12-60 months, minimum amounts of 1,000,000 FCFA, and interest rates up to 18% annually.
• Le Crédit Besoin en Fonds de Roulement (Working Capital Credit) Working capital credit product for businesses awaiting payments or needing to diversify products, with terms up to 18 months at 18% annual interest rate.
• L'avance sur Bon de Commande Purchase order advance product allowing SMEs and PMIs to receive up to 70% of their purchase order value with terms up to 180 days and 1.5% monthly declining interest.
• L'avance sur Facture Invoice advance product enabling businesses to receive immediate payment for unpaid, non-matured invoices by assigning them to Cofina, with terms up to 180 days and 3% file fees.
• L'escompte sur Traite Invoice discounting product allowing businesses to sell their bills of exchange to Cofina for immediate liquidity, with terms up to 90 days and rates up to 1.5% per month for endorsed bills.
• L'avance sur Chèque Check advance product providing urgent access to cash when a client's important customer has paid by check that hasn't cleared yet, with advances up to 70% of check amount within 7 days at 1.5% interest.
• Crédit Spot Short-term advance credit for existing Cofina clients of more than 1 year, with terms of 1-3 months, minimum amounts of 500,000 FCFA, at 1.5% monthly interest with in fine (lump sum at maturity) repayment.
• Engagement par Signature Signature commitment products including bid bonds, performance bonds, advance payment guarantees, retention guarantees, financial capacity attestations, credit line attestations, sponsorship attestations, supply bonds, and bill endorsements for business tendering and contractual obligations.
• COFIMBA Equipment financing product developed in partnership with Neemba, enabling SMEs to acquire quality industrial equipment (hydraulic/peristaltic pumps for BTP and industrial sectors) through tailor-made financing solutions.
• Pack Akwaba eco Entry-level account package for individuals including current account, savings account, COFINA Mobile+, and SMS Banking, with no credit access.
• Pack Akwaba+ Standard account package for individuals with current account, savings account, COFINA Mobile+, SMS Banking, and insurance, offering credit access up to 2,000,000 FCFA.
• Pack Croissance+ Growth account package for individuals with comprehensive services and credit access ranging from 2,000,000 to 25,000,000 FCFA.
• Pack Privilège+ Premium account package for individuals with full banking services including current account, savings, SMS Banking, insurance, COFINA Mobile+, Coficarte, and credit access exceeding 25,000,000 FCFA.
• Pack Classic+ Business account package with current and savings accounts, SMS Banking, insurance, Coficarte, and COFINA Mobile+, offering credit access up to 25,000,000 FCFA.
• Pack Business+ Mid-tier business account package with full banking services, offering credit access from 25,000,000 to 50,000,000 FCFA.
• Pack Gold+ Premium business account package with comprehensive services, offering credit access from 50,000,000 to 100,000,000 FCFA.
• Pack Premium+ Top-tier business account package with full banking services, offering credit access exceeding 100,000,000 FCFA.
• FAST PAY USSD-based account loading service allowing customers to top up their COFINA accounts by dialing #144*43*0507# without visiting a branch.

Quantifiable outcome

• Nearly 92,000 customers served since inception (as of February 2026)
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Ministère délégué auprès du Ministre d'État chargé de l'Intégration Africaine et des Ivoiriens de l'Extérieur (Ministry of Ivorians Abroad)coreStrategic or Co-development Partner · 16 June 2026COFINA Côte d'Ivoire and the Ministry signed a two-year renewable framework convention on June 16, 2026 to support TPE/PME of the Ivorian diaspora. The partnership includes a joint 'Mésofinance Diaspora' product with customized financing for diaspora-owned businesses, digital account opening for non-residents, and a co-managed steering committee. The Ministry provides institutional support through diplomatic networks, while COFINA deploys its mesofinance expertise. Jean Luc KONAN (PDG Groupe COFINA) and HE Adama DOSSO (Minister) signed the convention at the Administrative Tower in Abidjan.
• COFINA Services France (CSF)coreStrategic or Co-development Partner · 1 January 2019COFINA Services France (CSF), the Paris-based subsidiary of Groupe COFINA established in 2019, serves as the European hub for Ivorian diaspora financial services. Licensed by ACPR (Autorité de contrôle prudentiel et de résolution) as a payment agent, CSF enables Ivorians in France and Europe to save securely and transform remittances into productive investments in Côte d'Ivoire. CSF is explicitly referenced in the June 2026 diaspora partnership as the implementation vehicle for Mésofinance Diaspora.
• Neemba Côte d'IvoirecoreStrategic or Co-development PartnerCOFIMBA is a joint financing solution developed by COFINA and Neemba for SMEs to acquire industrial equipment (hydraulic/peristaltic pumps) through tailor-made financing. Neemba brings equipment distribution expertise and customer access while COFINA provides financing. The partnership targets BTP (construction) and industrial sector SMEs. COFINA participated in Neemba's Open Days event (JPO) in December 2025 to promote the COFIMBA product to micro-entrepreneurs in construction and industrial sectors.
• Olam AgriminorStrategic or Co-development PartnerCOFINA Côte d'Ivoire participates in Olam Agri's annual Gouassou program (meaning 'bonus' in local language), created in 2017 to support hevea (rubber) producers. COFINA provides information on financial solutions adapted to rubber farmers' needs, particularly addressing cash flow challenges during school fee season and the March-April inter-harvest 'soudure' period. The 16th edition was held March 27, 2026 in Duékoué. This is a recurring community engagement rather than a formal commercial partnership.
• LOGILIS (Immobilière LOGILIS)coreStrategic or Co-development PartnerLOGILIS is the real estate developer partner for Cofi Immo, COFINA's land financing product. LOGILIS develops semi-serviced land parcels (in partnership with ACD) in Songon and Bingerville, which COFINA finances for its customers. LOGILIS markets the 151 lots (100 in Songon, 51 in Bingerville) while COFINA provides credit for their acquisition over up to 84 months.
• ACD (Société ACD)coreStrategic or Co-development PartnerACD (Société ACD) is the semi-serviced land provider for the Cofi Immo real estate financing offer. ACD handles land servicing (semi-viabilisation) for parcels in Songon and Bingerville. COFINA provides financing for customers purchasing these ACD-serviced land parcels.
• PRO-KIDS Women and Kids (Girls Academy for Job)minorStrategic or Co-development PartnerCOFINA Côte d'Ivoire is a partner of PRO-KIDS Women and Kids' Girls Academy for Job (GAJ) program, which supports the training and professional integration of young women. COFINA participated in the 2026 edition launch and has had nearly 10 young women from the program join its internal 'CAF de demain' (future talent) program. This partnership supports COFINA's commitment to youth employment and female talent development.
• FIN'Elle (Groupe COFINA subsidiary)coreStrategic or Co-development PartnerFIN'Elle is a Groupe COFINA subsidiary dedicated to women entrepreneurs in Côte d'Ivoire. Led by Madame Yénita BAMBA, FIN'Elle provides tailored financing and high-impact accompaniment for women-led businesses. Mentioned in the June 2026 diaspora partnership delegation, confirming FIN'Elle's role as a specialized women's entrepreneurship unit within the group.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Advans Group: Advans is a Paris-headquartered micro/mesofinance group operating across West and Central Africa, serving SMEs and individuals underserved by traditional banks—directly comparable to Cofina's positioning, customer segments, and product suite.
• Baobab (formerly Microcred): Baobab is a digital microfinance institution serving SMEs and micro-entrepreneurs across Africa, with comparable lending products (consumer credit, SME finance) and digital distribution approach to Cofina.
• ACEP (Agence de Crédit pour l'Entreprise Privée): ACEP is a West African microfinance institution focused on SME financing in Senegal and surrounding countries, addressing the same 'missing middle' SME credit gap as Cofina with similar relationship-based lending.
• ProCredit Bank: ProCredit is a German-rooted group of SME-focused banks operating across Eastern Europe, Latin America, and Africa (including presence in West Africa), serving small and medium enterprises with similar relationship-based lending approach.
• FINCA International: FINCA operates a global microfinance network with significant African operations, providing consumer credit, SME finance, and savings products to underbanked populations similar to Cofina's customer base.
• Opportunity International: Opportunity International operates microfinance programs across Africa serving SMEs and micro-entrepreneurs, with similar customer segments, lending products, and development-finance backing to Cofina.

Broad incumbents

• Orabank: Orabank is a Togo-headquartered pan-African banking group present across West and Central Africa including Côte d'Ivoire, offering SME and individual banking services that overlap with Cofina's segments from a broader banking perspective.
• Ecobank: Ecobank is a major pan-African banking group with significant Côte d'Ivoire operations, offering SME and retail banking that overlaps with Cofina's target segments from a larger incumbent perspective.
• NSIA Banque: NSIA is one of the largest Ivorian banks, offering SME and individual banking products that compete with Cofina in the same Côte d'Ivoire market segments from a commercial banking perspective.
• Société Générale Côte d'Ivoire (SGCI): SGCI is the Ivorian subsidiary of Société Générale, offering commercial and individual banking services that compete with Cofina in the upper end of its target SME segment from a traditional banking perspective.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/GROUPECOFINA
• YouTubeyoutube.com/channel/UCu1qhNJKRIThskqQJg3gxwQ
• Facebookfacebook.com/CofinaCI
• LinkedInlinkedin.com/company/groupe-cofina

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cofina Ivory