Ivory Coast: Ecobank to improve access to credit for women-managed SMEs

Feb 25, 2013

Ecobank wants to improve access to credit for women-managed small and medium-sized businesses in Ivory Coast and plans to set up a dedicated branch in 2013, said the bank's CEO, Charles Daboiko, on February 15th.

Ecobank wants to improve access to credit for women-managed small and medium-sized businesses in Ivory Coast and plans to set up a dedicated branch in 2013, said the bank's CEO, Charles Daboiko, on February 15th.

"In 2012 we provided 312 billion FCFA (€475.6 million) to SMEs. In 2013, we expect to grant more loans for SMEs mostly run by women," he said, quoted by the newspaper Notre Voie.

The CEO of Ecobank Ivory Coast also said that loans granted to SMEs and SMIs represent approximately 25 percent of the total amount lent by the institution, as opposed to ten percent a few years earlier.

This initiative could contribute to achieving the objectives set by Ivorian Head of State Alassane Ouattara, who aims to lower the poverty rate to under 50 percent by 2015.

According to the FAFCI -a support fund for women in Ivory Coast - empowering women helps families' standards of living, as the poverty rate in households headed by women is lower than in households headed by men, with 45.4 per cent against 49.6 per cent.

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