On Tuesday, May 9, 2023, in Yamoussoukro, the Senate Committee on Economic and Financial Affairs adopted a uniform law for the West African Monetary Union ( UEMOA ) which facilitates the financing of small and medium-sized enterprises (SMEs).

After presentation by the Minister of Economy and Finance, Adama Coulibaly, the law relating to factoring activity in Côte d'Ivoire was adopted unanimously by the members of the commission. Factoring is an agreement by which a specialized institution called a factorer agrees to settle the claims that a company has against its customers, in return for the transfer of these claims to its benefit and remuneration consisting of commissions and fees. The Minister of Finance considered that this practice is “an innovative alternative to traditional financing that contributes to the dynamization of financing for companies facing cash flow difficulties to finance their operating cycle.”

For him, “the factorer thus pays the company in advance and takes care of collecting the claims thus transmitted from the debtors”.