Cofina Mali

What Cofina Mali does

Cofina Mali (Compagnie Financière Africaine) is the Malian operating subsidiary of Groupe Cofina, a pan-African inclusive finance group. Established in 2014 and headquartered in Bamako's Hamdallaye ACI 2000 district, the company provides microfinance and SME banking services through a physical branch network complemented by digital self-serve channels. It serves two principal segments: individual retail customers (Particuliers) and entrepreneurs/SMEs (Entrepreneurs & PME), with the latter designated as the primary segment. Cofina Mali operates within a broader group footprint that spans nine countries across West and Central Africa plus France.

The product portfolio is organized around three ascending subscription banking tiers for businesses and individuals: Pack SOLO (20,000 FCFA opening deposit, 2,925 FCFA monthly fee, 25 million FCFA credit ceiling), Pack PRO (25,000 FCFA deposit, 3,925 FCFA monthly, 50 million FCFA ceiling), and Pack BUSINESS (35,000 FCFA deposit, 5,925 FCFA monthly, unlimited credit ceiling). Each pack bundles a current account, savings account, SMS Banking, Cofina Mobile on-demand access, Mobile Money, and insurance, with Coficash added to PRO and CofiCarte added to BUSINESS. Specialized credit products include Crédit Nekaso and solar kit financing (Crédit Financement achat de kit solaires), and the company also offers interest-bearing deposit accounts (Comptes rémunérés). The technology stack centers on a digital banking platform that supports the Cofina Mobile app, CofiCarte digital payment cards, SMS Banking notifications, and a WhatsApp Business customer service channel.

Cofina Mali's revenue model combines recurring monthly pack subscription fees (2,925–5,925 FCFA), interest income from credit facilities across tiers, transaction and international transfer fees, and commission revenue from bundled insurance products. Go-to-market is direct-to-consumer through branches and digital onboarding, with horizontal segmentation across both individuals and SMEs. The company received growth capital of approximately $3.5 million from the Belgian Investment Company for Developing Countries (BIO) in October 2021, and is positioned within the Groupe Cofina ecosystem which also operates the Cofina Startup House entrepreneurship initiative.

Name

Cofina Mali

Legal name

Cofina Mali – Compagnie Financière Africaine

Website

https://cofinamali.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cofina Mali is the Malian subsidiary of pan-African microfinance group Groupe Cofina, providing tiered subscription banking packages, credit facilities, and digital banking services to individuals and SMEs through a branch and digital channel network in Bamako and across Mali.

Ownership category

akta.pro rank

Product category

Microfinance and Inclusive Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Credit Intermediation and Related Activities (522)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Microenterprise Group Lending (Joint Liability) (FSAKAGAH)

Keywords

• Microfinance services
• Inclusive banking
• SME financing
• Mobile banking
• Credit facilities

Headquarters

HQ city

Bamako

HQ country

Mali

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Account and Pack Fees: Monthly pack fees charged for SOLO, PRO, and BUSINESS account packages. Fees range from 2,925 FCFA to 5,925 FCFA monthly.
2. Credit and Financing: Interest-bearing loans and credit facilities including solar kit financing, Nekaso credit, and general business/personal credit lines with varying ceilings up to unlimited for BUSINESS tier.
3. Transaction Fees: Fees collected on international transfers, domestic transfers, and payment transactions. Opening fees also charged for account setup.
4. Insurance Products: Insurance products bundled with account packages, generating commission revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Cofina Mali is a microfinance institution providing tiered banking account packages (Pack SOLO, Pack PRO, Pack BUSINESS) to individuals, entrepreneurs, and SMEs in Mali. Core offerings include interest-bearing deposit accounts, savings, mobile banking, SMS banking, debit cards, mobile money, bundled insurance, and credit facilities up to unlimited ceilings for the BUSINESS tier. Specialized credit products include Crédit Nekaso and solar kit financing.

Product overview

Cofina Mali (Compagnie Financière Africaine) is a pan-African inclusive finance institution operating as part of the Groupe Cofina network. The company offers a multi-tiered product portfolio organized around two main segments: Pack Particuliers for personal banking customers and Pack Entreprises & PME for business customers. The SME/business offerings are structured in three ascending tiers: Pack SOLO (deposit 20,000 FCFA, credit ceiling 25,000,000 FCFA), Pack PRO (deposit 25,000 FCFA, credit ceiling 50,000,000 FCFA), and Pack BUSINESS (deposit 35,000 FCFA, unlimited credit ceiling). Each pack includes core banking services plus module add-ons such as CofiCarte, CofiCash, Cofina Mobile, SMS Banking, and Mobile Money. Credit products include specialized offerings like Crédit Nekaso and Crédit Financement achat de kit solaires (solar kit financing). The company serves as part of a broader pan-African network including operations in Senegal, Burkina Faso, Guinea, Côte d'Ivoire, Congo, and France.

Differentiator

Problem solved

Functional benefit

Brands

• CofiCarte: Debit card service offered to customers
• Coficash
• Cofina Mobile
• Pack SOLO
• Pack PRO
• Pack BUSINESS
• Crédit Nekaso
• Cofina Startup House

Products and services

• Pack SOLO Banking package for entrepreneurs and SMEs with opening deposit of 20,000 FCFA, opening fee 7,500 FCFA, and monthly pack fee 2,925 FCFA. Includes current account, savings account, SMS Banking, Cofina Mobile (on-demand), Mobile Money, insurance, and credit access up to a 25,000,000 FCFA ceiling.
• Pack PRO Banking package for entrepreneurs and SMEs with opening deposit of 25,000 FCFA, opening fee 10,000 FCFA, and monthly pack fee 3,925 FCFA. Includes current account, savings account, SMS Banking, Coficash, Cofina Mobile, Mobile Money, insurance, and credit access up to a 50,000,000 FCFA ceiling.
• Pack BUSINESS Top-tier banking package for businesses and SMEs with opening deposit of 35,000 FCFA, opening fee 15,000 FCFA, and monthly pack fee 5,925 FCFA. Includes current account, savings account, SMS Banking, Coficash, CofiCarte, Cofina Mobile, Mobile Money, insurance, and unlimited credit access.
• Pack Particuliers Personal banking package offering products and services adapted to individual needs, including savings, current accounts, and digital banking tools for individuals in Mali.
• Pack Entreprises & PME Products and services for businesses and SMEs enabling controlled finance management, including the SOLO, PRO, and BUSINESS account tiers and associated credit facilities.
• Comptes rémunérés Interest-bearing deposit accounts offered by Cofina Mali to provide yield on customer balances.
• Crédit Nekaso Credit product offered by Cofina Mali to eligible customers.
• Crédit Financement achat de kit solaires Financing credit product for customers purchasing solar kits.

Quantifiable outcome

• Customer testimonial reports creating 10 jobs through financed business

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Groupe CofinacoreStrategic or Co-development PartnerParent organization and pan-African financial services group. Cofina Mali operates as the Mali subsidiary of Groupe Cofina, which provides strategic direction, brand, and network support across multiple African countries.
• Cofina SenegalminorStrategic or Co-development PartnerSister company within the Cofina group network operating in Senegal.
• Cofina BurkinaminorStrategic or Co-development PartnerSister company within the Cofina group network operating in Burkina Faso.
• Cofina GuineaminorStrategic or Co-development PartnerSister company within the Cofina group network operating in Guinea.
• Cofina Côte d'IvoireminorStrategic or Co-development PartnerSister company within the Cofina group network operating in Côte d'Ivoire.
• Cofina CongominorStrategic or Co-development PartnerSister company within the Cofina group network operating in Congo.
• Cofina Services FranceminorStrategic or Co-development PartnerInternational operations entity of the Cofina group serving France.
• Cofina Startup HouseminorStrategic or Co-development PartnerInnovation and startup support initiative operated by Cofina Senegal, part of the group's entrepreneurial ecosystem.

Scale indicators1 record

Recent moves6 records

Expansion highlights6 records

Direct peers

• Baobab (formerly Microcred): Pan-African microfinance institution operating in Mali and several West African countries, offering credit, savings, and digital banking to micro-entrepreneurs and SMEs. Closest direct competitor given overlapping geography, customer segment, and product mix.
• Advans: International microfinance group with subsidiaries in multiple West and Central African countries including Côte d'Ivoire, Senegal, Cameroon, and Ghana. Comparable in offering SME and micro-enterprise credit plus savings products in similar CFA-zone markets.
• Kafo Jiginew: Leading Malian microfinance institution serving individuals, cooperatives, and SMEs across Mali. Direct domestic competitor with overlapping product set (credit, savings, mobile banking) and similar target customer base.
• Nyèsigiso: Malian microfinance institution focused on financial inclusion for underserved populations including micro-entrepreneurs. Direct domestic peer operating in the same regulatory environment with comparable credit-led product offering.
• Réseau des Caisses Rurales du Mali (RMCR): Malian network of rural savings and credit cooperatives serving micro-enterprises and smallholders. Direct competitor for the same informal micro-enterprise segment, especially in non-urban areas.

Broad incumbents

• ProCredit Bank Mali: Part of the ProCredit Group, providing banking services to SMEs and private clients in Mali. A broader incumbent bank that overlaps on SME lending and current-account products, competing for the upper tier of Cofina Mali's customer base.
• Ecobank Mali: Subsidiary of pan-African Ecobank Group, offering retail and SME banking in Mali. Competes for the upper 'Pack BUSINESS' segment with broader product suite (trade finance, FX, treasury), though less focused on micro-enterprises.
• Banque Atlantique Mali: West African commercial bank with Malian operations under the Banque Centrale Populaire group. Provides SME and corporate banking products overlapping with Cofina Mali's higher tiers.
• NSIA Banque Mali: West African banking group with Malian presence serving retail, SME, and corporate clients. Comparable on deposit accounts and SME credit facilities, though serving a broader customer profile than Cofina Mali.

Emerging players

• Orange Bank Africa (mobile money/fintech): Orange Money and Orange Bank Africa extend mobile-money accounts, savings, and increasingly microcredit to informal populations across West Africa including Mali. Adjacent emerging competitor that could pressure MFI margins through lower-cost digital distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCu1qhNJKRIThskqQJg3gxwQ
• Xx.com/GROUPECOFINA
• Facebookfacebook.com/cofinamali

Revenue estimate

Valuation estimate

Number of profiles

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 Mali