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Support for SMEs/SMIs: The BCEAO financing mechanism presented

26/11/2021
Categories: Companies

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During a lunch-debate in Abidjan, the Central Bank of West African States (BCEAO) and the Ivorian ministry in charge of SMEs presented the system put in place by the council. WAEMU ministers, through the BCEAO, to support SMEs/SMIs by credit institutions.

To date, this system is still unknown to banks, support and management structures (SAE), and SMEs themselves. In the presentation of the device, the director of banking activities and alternative financing at the BCEAO, Charlie Jerry Dingui, noted that SMEs dominate the landscape of private sector companies in the world (95%), and 80 to 95% in the WAEMU space. In Côte d'Ivoire, they represent 95% of the economic fabric and contribute barely 20% to the creation of wealth. However, he pointed out, with the implementation of the system in 2018, credits have gone from around 3,500 billion to 2,500 today in WAEMU. In Côte d'Ivoire, the rate rose from 1,500 to 1,700 billion FCFA/year.

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