AfDB and Bridge Bank Côte d’Ivoire Launch €30M Facility for SMEs Growth

The African Development Bank Group (AfDB) and Bridge Bank Group Côte d’Ivoire have signed a landmark agreement to establish a €30 million financing facility aimed at strengthening small and medium enterprises (SMEs), with a special focus on women-led and women-owned businesses. The agreement was formalized on 19 September in Abidjan and represents a major step forward in expanding financial inclusion, gender equality, and sustainable private sector development in Côte d’Ivoire.

Strategic Support for Key Economic Sectors

SMEs play a critical role in the Ivorian economy, accounting for a large share of formal businesses, according to the National Statistics Agency. However, many of these enterprises face challenges in accessing adequate financing for expansion, innovation, and international trade.

The new facility will provide Bridge Bank Group with the resources needed to finance investment in priority sectors, including:

• Agro-industry and local food transformation.

• Industrial production and manufacturing.

• Healthcare and education services, critical to human capital development.

• Trade finance, supporting import and export activities of SMEs to strengthen Côte d’Ivoire’s position in regional and international markets.

Three Components of the Facility

The €30 million financing package is structured into three targeted instruments designed to meet diverse needs:

1. €10 million subordinated loan – to strengthen Bridge Bank’s capital base and expand its lending capacity.

2. €10 million trade finance guarantee – to support SMEs engaged in import and export activities, enabling them to access global value chains.

3. €10 million portfolio guarantee – dedicated to women-led or women-owned businesses, helping reduce risk and encourage greater lending to women entrepreneurs.

Driving Financial Inclusion and Gender Equality

The facility is closely aligned with the AfDB’s priorities of financial inclusion and gender empowerment. Ahmed Attout, Director of the AfDB’s Financial Sector Development Department, emphasized: “This partnership is not only about providing financial resources. It is about empowering women entrepreneurs, strengthening SME capacities, and enabling enterprises to access markets. These elements directly support our goals of financial inclusion, gender equality, private sector growth, and regional integration, while complementing Côte d’Ivoire’s National Private Sector Development Plan.”

AFAWA and We-Fi: Unlocking Women’s Potential

A central feature of the agreement is the involvement of the Affirmative Finance Action for Women in Africa (AFAWA) initiative, supported by the Women Entrepreneurs Finance Initiative (We-Fi). Under this arrangement:

• Women-led SMEs will gain access to up to €20 million in direct financing unlocked by the guarantees.

• AFAWA will provide technical assistance, helping Bridge Bank adapt its products and services to the specific needs of women entrepreneurs.

• Women active in social services, local transformation, and high-growth sectors will receive targeted support to scale their enterprises.

Melissa Basque-Roux, AFAWA Coordinator at AfDB, explained: “This partnership is central to our mission of closing the financing gap for women entrepreneurs. By combining guarantees with tailored technical assistance, we ensure women-owned businesses have the tools to thrive and contribute meaningfully to the national economy.”

Strengthening National Development

For Bridge Bank Group Côte d’Ivoire, this facility represents a milestone in its strategy to drive inclusive and sustainable economic growth. Ehouman Kassi, the Bank’s General Manager, stated: “By increasing our capacity to finance SMEs, particularly women-led enterprises, we are reaffirming our commitment to inclusive growth and alignment with the National Development Plan. This agreement with AfDB is a significant step in supporting Côte d’Ivoire’s broader economic transformation.”

A Model for Regional Replication

The initiative could serve as a model for other African economies facing similar challenges in SME financing. By leveraging guarantees, concessional loans, and technical assistance, the partnership combines financial innovation with social impact, particularly in empowering women as key drivers of economic resilience and job creation.

As Côte d’Ivoire continues to pursue economic diversification and industrial growth, the AfDB–Bridge Bank partnership provides a critical tool for unlocking the potential of SMEs. By ensuring that women entrepreneurs are central to this effort, the facility represents not just an economic boost but also a commitment to building a more inclusive, equitable, and resilient future for the Ivorian economy.