The Belgian Investment Company for Developing Countries (BIO) targets SMEs in the sectors of renewable energy, financial inclusion, agribusiness, health and education. It opened its first office in Africa in Abidjan, Côte d'Ivoire.

The new regional office of the financial institution for the private sector covers all the countries of the West African Economic Monetary Union (UEMOA) plus Ghana. It aims to increase its commitments on the continent by 10 to 20% over the next few years. According to its director Maximilien d'Hacourt, this office will invest in debt and equity directly in SMEs but also via financial institutions and private equity funds. In West Africa, BIO already manages €125 million of investments for the benefit of the private sector, compared to nearly €500 million on the continent out of a total portfolio of one billion euros of assets under management.