Côte d’Ivoire launched a programme to strengthen its fintech sector on 6 October in Abidjan. The Financial Inclusion Promotion Agency is leading the initiative under the economy and finance ministry, with African Development Bank support through the country’s business-climate programme. The government said that programme supports three financial-inclusion projects with a total commitment of nearly 900,000 units of account, or about CFA684 million; it did not disclose the fintech project’s individual allocation.
The programme follows rapid growth in the country’s use of digital finance. APA reported, citing BCEAO data, that electronic-money service points per 1,000 square kilometres rose to 1,325 in 2024 from 574 in 2019, while service use increased to 84.2% from 61%. The strict bank-account ownership rate rose to 33.6% from 19.1% over the same period, and the broader rate including microfinance accounts reached 46.2% from 30.8%. APA also reported that overall financial inclusion increased to 58% in 2024 from 41% in 2017.
PROGRAMME TARGETS CAPACITY AND COMPLIANCE
The initiative is intended to address limited access to finance, gaps in technical capacity and the cost of regulatory compliance. The agency plans to update Côte d’Ivoire’s fintech register and help participating start-ups improve their organisational structures. Future programmes are expected to include technical and management training for eligible small businesses and start-ups.
Officials said local fintech offers remain concentrated in payments and money transfers. The programme therefore aims to support a wider range of financial services while strengthening the ecosystem around them. Its launch does not itself create a new licence or change the rules set by the BCEAO.
EXECUTION WILL DEFINE THE PROJECT’S REACH
The launch workshop brought together the digital-transition ministry, BCEAO, banks, electronic-money issuers and fintech entrepreneurs. Officials said a fuller database of fintech companies would support a national roadmap for a more competitive and structured sector. Small businesses and financial-inclusion start-ups were invited to register for future support.
The next tests will be publication of the updated register, selection criteria and a timetable for training or other assistance. The three-project CFA684 million envelope does not show how much is allocated to the fintech initiative or how funding will be divided among activities and beneficiaries. Those details will determine whether the project moves beyond capacity building to measurable changes in product diversity and financial access.