Bank of Africa Burkina Faso

What Bank of Africa Burkina Faso does

Bank of Africa Burkina Faso (BOA-BF) is a universal commercial bank incorporated in 1997 under Burkina Faso law and ranked as the second largest bank in the country. Headquartered in Ouagadougou, the bank operates 53 branches across 19 cities with 566 employees as of December 31, 2023, serving retail individuals, SMEs, large enterprises, and informal economy clients through differentiated product packs (Pack Viva through Pack Elite). The bank is majority owned by BMCE Bank of Africa (Morocco's third-largest bank) since 2010 and listed on the BRVM regional stock exchange under ticker BOA-BF.

The bank's product platform spans current and savings accounts (Compte Chèque, Compte Epargne Classic, Plan Epargne Ambition, Epargne élite), consumer and asset loans (Prêt Ma Maison, Prêt Ma Voiture, Prêt Ma Moto, Prêt Personnel), corporate banking (BOA-Leasing, documentary credits, Crédits Documentaires, Trade Express), and insurance distribution (Zen Auto, Zen Voyage, Zen Educ, Zen Emprunt) via SanlamAllianz partnership. Digital infrastructure includes the MyBOA mobile app (V2 launched 2024), BOAweb online platform, B-SMS alerts, and Bank to Wallet interoperability with Orange Money and Moov Money. International transfers flow through Western Union, MoneyGram, BOA Express (pan-African), and Trade Express (six-country West African corridor).

The bank generates revenue primarily through net interest income from lending activities (consumer loans, mortgages, vehicle financing, business credit), transaction and account fees, card annual fees and interchange (Visa Platinum, Gold, Bleue, prepaid; Sésame local cards), and insurance distribution commissions. As of December 31, 2023, total balance sheet was 1,163.3 billion F CFA with customer deposits of 875.5 billion F CFA. In 2025, net profit was 19.25 billion XOF (down 14%) and cost of risk nearly doubled to 8.35 billion XOF due to provisions for bad loans amid the country's security and economic instability.

Name

Bank of Africa Burkina Faso

Legal name

BANK OF AFRICA – BURKINA FASO

Website

https://boaburkinafaso.com

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Bank of Africa Burkina Faso is the second largest universal commercial bank in Burkina Faso, operating 53 branches with 566 employees, serving retail, SME, and corporate clients through savings, lending, insurance distribution, and mobile money-integrated digital banking.

Ownership category

akta.pro rank

Headquarters

HQ city

Ouagadougou

HQ country

Burkina Faso

Offices20 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Interest income from lending activities including consumer loans, mortgages, vehicle financing, and business credit. Core banking revenue from spread between lending rates and deposit rates
2. Transaction and Account Fees: Fees from account maintenance,ATM withdrawals, card payments, wire transfers, and documentary operations for corporate clients
3. Card Revenues: Annual fees from Visa and Sésame card products including Visa Platinum, Gold, Bleue, and prepaid cards; interchange revenue from card transactions
4. Insurance Distribution: Commission revenue from distribution of SanlamAllianz insurance products (Zen Auto, Zen Voyage, Zen Educ, Zen Emprunt)
5. Leasing and Investment Financing: Revenue from BOA-Leasing equipment financing and investment credit for businesses

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

Bank of Africa Burkina Faso is a universal commercial bank providing retail, SME (PME/PMI) and large-enterprise (Grandes Entreprises) banking services across Burkina Faso, distributing current and savings accounts, consumer and mortgage loans, payment cards, insurance products, money transfer services and trade finance through a 53-branch physical network and digital channels including the MyBOA mobile app and BOAweb online platform. Revenue is generated primarily from net interest income on lending, supplemented by transaction fees, card revenues and commissions from insurance distribution in partnership with SanlamAllianz.

Product overview

Bank of Africa Burkina Faso operates as a universal commercial bank offering a comprehensive suite of banking products and services through multiple channels including 53 branches, digital banking platforms (MyBOA mobile app and BOAweb online banking), and partnerships. The retail banking portfolio spans current accounts (Compte Chèque), savings products (Compte Epargne Classic, Plan Epargne Ambition, Plan Epargne Logement, Epargne élite, Dépôt à Terme), and foreign currency accounts. The credit offerings include consumer loans (Prêt Personnel, Prêt Consommation), vehicle financing (Prêt Ma Voiture, Prêt Ma Moto), home mortgages (Prêt Ma Maison), and specialized products (Prêt Tous à l'École, Prêt Vitamine for debt consolidation). Card services range from premium Visa Platinum/Gold to standard Visa Bleue and prepaid cards, plus local Sésame cards for UEMOA transactions. Digital services include mobile banking (MyBOA V2), internet banking (BOAweb), SMS alerts (B-SMS), and Bank to Wallet integration with mobile money operators. The bank provides insurance products (Zen Voyage, Zen Auto, Zen Educ, Zen Emprunt) through SanlamAllianz partnership and money transfer services via Western Union, MoneyGram, and BOA Express. Premium bundled packages (Pack Elite, Pack Prima, Pack Fonxionaria Prima, Pack Salaria, Pack Fonxionaria, Pack Viva) serve different client segments. Enterprise services include trade finance products (Crédits Documentaires, Remises Documentaires), investment financing, leasing (BOA-Leasing), and international transfer services (Trade Express, Transferts en devises).

Differentiator

Problem solved

Functional benefit

Brands

• Prêt Ma Maison: Home loan product for acquiring or constructing residential property with repayment terms up to 20 years
• MyBOA
• BOAweb
• BOA Express
• Zen Auto
• Zen Voyage
• Zen Emprunt
• Zen Educ
• BOA Express
• Epargne elite

Products and services

• Compte Chèque Standard current account for daily banking operations including deposits and payments, with optional credit facilities and free integration across the bank's retail banking package range.
• Compte Epargne Classic Savings account with no account maintenance fees, optional Sésame Mauve withdrawal card, and flexible saving at the client's own pace for individual customers.
• Compte en Devises Foreign currency account protecting against exchange-rate risk for international transactions, available subject to prior authorization from regulatory authorities.
• Plan Epargne Ambition Savings plan with 3.5% annual interest rate enabling access to preferential loans up to twice the saved amount after 12 regular monthly deposits.
• Plan Epargne Logement Housing savings plan with a 4% interest rate providing access to preferential Prêt Ma Maison home loans up to six times the saved amount after 36 regular deposits.
• Epargne élite Premium savings account offering the bank's best remuneration rate, starting from 10,000,000 F CFA initial deposit with semi-annual interest payments and full liquidity.
• Dépôt à Terme Term deposit enabling customers to place excess cash for a fixed period at fixed interest rates, with the option to request an advance if needed.
• Carte VISA Platinum Luxury high-end Visa credit card with very high withdrawal and payment limits, insurance for theft and damage on purchased goods, and international travel and medical assistance for premium cardholders.
• Carte VISA Gold Premium Visa credit card for elite clients with global assistance services, travel and medical insurance, hotel reservations with preferential rates, and a weekly limit of 10,000,000 F CFA.
• Carte VISA Bleue International Visa card with an annual fee of 24,000 F CFA, usable in over 200 countries for withdrawals and payments, with Visa Secure protection for online transactions.
• Carte VISA Verte Prépayée Prepaid Visa card for controlling spending, usable worldwide without requiring a bank account, with real-time transaction alerts and reloadability by transfer.
• Cartes Sésame Local bank cards (Sésame Turquoise and Sésame Mauve) usable throughout the UEMOA zone on BOA and GIM-UEMOA networks for withdrawals, payments and balance inquiries.
• MyBOA Mobile Banking Application Mobile banking application (V2) for managing accounts on smartphones and tablets, offering real-time transaction viewing, card management, bill payments (SONABEL electricity), cash-power recharge, internal and international transfers via BOA Express, and enhanced security.
• BOAweb Online Banking Online banking platform for computers providing account visibility, domestic and international transfers, beneficiary management, mass payments and corporate cash-management document handling for international trade.
• Swift-On Automatic email delivery service providing SWIFT message copies (MT 103, MT 700, MT 707) in real-time when international banking operations and documentary credits are executed.
• B-SMS SMS banking service for receiving account information, salary alerts, mini-statements and commercial offers directly on mobile phones.
• Bank to Wallet Service enabling bidirectional transfers between BANK OF AFRICA accounts and Orange Money or Moov Money mobile money accounts, with balance and mini-statement inquiries available through the partner mobile apps or USSD codes.
• Prêt Ma Maison Home loan for acquiring or constructing residential property with terms up to 20 years, fixed interest rates and financing up to 80% of property value, for individual borrowers.
• Prêt Ma Voiture New vehicle loan with terms from 12 to 60 months, minimum amount of 3,000,000 F CFA, and optional integrated insurance package including death/disability, liability and full coverage.
• Prêt Ma Moto Motorcycle loan for purchasing new motorcycles with amounts up to 2,000,000 F CFA, terms up to 36 months, 8% interest rate, and no personal contribution required.
• Prêt Personnel Medium-term personal loan for purchasing consumer goods or equipment with maximum 60-month terms and an amount based on client repayment capacity.
• Prêt Consommation Consumer loan for purchasing consumer goods or equipment with terms up to 84 months and preferential rates based on cessible quota and repayment capacity.
• Prêt Equipement Equipment loan for financing consumer-goods or equipment purchases with fixed interest rates over the entire loan period, available up to 5 years for private sector employees.
• Prêt Collectif Group loan program for employee groups through employer or mutual organizations, providing favorable consumption or equipment loans with a 10% deposit guarantee.
• Prêt Vitamine Debt consolidation service for over-indebted clients, in which BANK OF AFRICA buys out existing loans from other institutions and offers more favorable repayment terms.
• Prêt Tous à l'École School loan financing children's educational expenses with amounts up to 5 months' salary and repayment terms up to 11 months, with express response.
• Avance sur salaire Short-term salary advance for unexpected situations, processed as a direct debit against the customer's salary to cover urgent expenses.
• Découvert Authorized overdraft facility allowing temporary negative account balance for short-term financial needs, with the facility amount determined by client capacity.
• BOA Express Money Transfer Group money transfer service available in all BOA branches across 10 African countries (Benin, Burkina Faso, Côte d'Ivoire, DRC, Mali, Madagascar, Niger, Rwanda, Senegal, Togo), offering fast and economical transfers for both customers and non-customers.
• Zen Voyage Travel Insurance Travel insurance developed with SanlamAllianz, providing comprehensive coverage including medical assistance up to 20 million F CFA, baggage protection, repatriation services and meeting Schengen visa requirements.
• Zen Auto Vehicle Insurance Vehicle insurance developed with SanlamAllianz offering comprehensive or third-party coverage with installment financing options at 0% for 3-6 months or 2% for 9 months.
• Zen Educ Education Insurance Education savings and insurance product developed with SanlamAllianz, providing annual rent payments over 5 years with a guaranteed 3.5% annual revaluation rate for children's education funding.
• Zen Emprunt Credit Insurance Credit insurance automatically provided with consumption or equipment loans, covering death and disability risks and protecting the borrower's family.
• Trade Express Instant account-to-account transfer service for businesses connecting BOA branches in Burkina Faso, Benin, Côte d'Ivoire, Niger, Senegal and Togo, with instant crediting and SMS notifications for cross-border corporate transfers.
• Crédits Documentaires Documentary credit service for international trade transactions, providing guarantees for export and import operations in various forms including irrevocable, back-to-back and transferable credits.
• Remises Documentaires Documentary collection service for international trade between trusted partners, with documents released against payment (D/P) or acceptance (D/A).
• Lettre de Garantie Bank guarantee letter enabling importers to retrieve goods before transport documents arrive, saving on storage fees and reducing deterioration risks.
• Avals en devise Bank aval service guaranteeing international payment obligations, available in XOF or foreign currencies for import payments.
• Chèques ou effets en devises Foreign currency bills of exchange (lettre de change and billet à ordre) establishing trust in international commercial relationships.
• Transferts en devises Foreign currency transfer service for sending or receiving funds in foreign currencies, subject to regulatory compliance.
• BOA-Leasing Equipment leasing service in which BANK OF AFRICA purchases professional equipment and rents it to businesses with a purchase option at the end of the contract.
• Financement des Investissements Investment financing for businesses, covering up to 80% of project costs and available for all types of enterprises.
• Bon de Caisse Cash-note investment offering guaranteed returns for fixed terms, available in nominative or bearer form with optional regular interest payments, for corporate investors.

Quantifiable outcome

• Second largest bank in Burkina Faso by market presence
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered core.

• SanlamAllianzcoreStrategic or Co-development PartnerInsurance partnership for Zen product line (Zen Auto, Zen Voyage, Zen Educ, Zen Emprunt). SanlamAllianz provides insurance expertise while BOA distributes products to its customer base. Zen Auto includes financing integration allowing customers to pay insurance premiums in installments.
• Western UnioncoreChannel Partner/ Reseller/ DistributorWestern Union money transfer service available in all BOA branches for sending and receiving money worldwide. Open to both customers and non-customers with simple, fast, and secure service.
• MoneyGramcoreChannel Partner/ Reseller/ DistributorMoneyGram money transfer service available in all BOA branches for global money transfers. Open to both customers and non-customers.
• Orange MoneycoreTechnology or IntegrationMobile money integration through Bank to Wallet service allowing customers to transfer funds between BOA bank accounts and Orange Money mobile wallets. Enables balance inquiry and mini-statement access via mobile.
• Moov MoneycoreTechnology or IntegrationMobile money integration through Bank to Wallet service allowing customers to transfer funds between BOA bank accounts and Moov Money mobile wallets.
• CNEI-BF (Conseil National de l'économie Informelle)coreStrategic or Co-development PartnerPartnership established October 12, 2023 to strengthen BOA's positioning with SMEs and informal economy. Provides access to national network of enterprises and associations contributing over 80% to national economy. Includes specific products: Avance sur stock, Avance sur facture, Prêt 72.
• VisacoreTechnology or IntegrationInternational payment network partner enabling Visa-branded cards (Platinum, Gold, Bleue, prepaid) accepted at 30 million merchants and 1.2 million ATMs in 200 countries. Provides secure payment technology, Visa Secure authentication, and premium cardholder benefits.
• GIM-UEMOA (Groupement Interbancaire Monétique)coreTechnology or IntegrationRegional interbank electronic banking network enabling card transactions across UEMOA zone. Allows Sésame card withdrawals and payments at GIM-UEMOA network ATMs and merchants.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• BMCE Bank of Africa: Morocco's 3rd largest bank and majority shareholder of the BOA Group since 2010. BMCE provides strategic, operational, and capital support to BOA-BF and is the parent incumbent across the entire pan-African BOA platform.

Direct peers

• Coris Bank Burkina Faso: Coris Bank is the #1 bank in Burkina Faso and offers a directly comparable universal banking proposition—deposits, loans, mobile money, and corporate banking—to the same retail, SME, and large enterprise segments that BOA-BF serves.
• Orabank Burkina Faso: Orabank operates a WAEMU-focused banking platform with retail, SME, and corporate offerings. Its Burkina Faso subsidiary serves overlapping customer segments with comparable product bundles and digital channels.
• United Bank for Africa (UBA) Burkina Faso: UBA's Burkina Faso subsidiary is part of one of Africa's largest banking groups by footprint, offering universal banking, mobile money, and pan-African transfer services that directly compete with BOA-BF's BOA Express and Trade Express offerings.
• Banque Atlantique Burkina Faso: Subsidiary of Atlantic Financial Group (WAEMU-focused), Banque Atlantique Burkina Faso provides corporate, SME, and retail banking with comparable trade finance capabilities, operating in the same domestic market as BOA-BF.
• Société Générale de Banques au Burkina (SGBF): Part of the Société Générale network, SGBF provides full-service commercial and corporate banking in Burkina Faso, including international trade finance and digital banking, directly overlapping BOA-BF's product set and target market.
• Ecobank Burkina Faso: Subsidiary of pan-African Ecobank Group, Ecobank Burkina Faso offers the same universal banking services (retail, SME, corporate, trade finance) and competes head-to-head with BOA-BF across all customer segments in Ouagadougou and regional cities.

Regional players

• BOA Senegal: Sister bank under the BOA Group platform, BOA Senegal offers the same MyBOA mobile app, BOAweb, and Zen insurance products in the Senegalese market. It does not compete directly with BOA-BF but provides a close template for product roadmap and operating model.
• BOA Côte d'Ivoire: Another BOA Group sister bank operating in the WAUMO zone with an identical product suite and brand. Operates in a different national market but is directly relevant as a comparable template and BOA Express transfer counterparty.
• Attijariwafa Bank Burkina Faso: Subsidiary of Morocco's Attijariwafa Bank—one of the largest North African banking groups—operating in Burkina Faso with full-service retail, corporate, and trade finance capabilities, representing the Moroccan banking expansion model comparable to BMCE Bank's BOA approach.

Market position

Strengths5 records

Weaknesses3 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/bank-of-africa-burkina-faso

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 Bank of Africa Burkina Faso