NSIA Banque CI and the Société Ivoirienne de Raffinage (SIR) signed an agreement on Wednesday, November 13, 2019, relating to the renewal of a financing line in the form of a letter of credit/spot in favor of the SIR up to 100 billion FCFA.

This line renewal aims to support SIR, a major player in refining in West Africa, in optimizing its raw natural resources supply chain for ever more controlled management of its production. Since 2018, more than 200 billion FCFA of financing in the form of letters of credit/spot that NSIA Banque CI has granted to the SIR for the development of its operations.

“NSIA Banque CI is proud to contribute to the development projects of the Ivorian Refining Company (SIR). This financing translates for each of the entities a clear desire to contribute to the development of Côte d'Ivoire through the improvement of the living environment of the Ivorian and sub-regional populations” declared Mr. Léonce YACE, Managing Director of NSIA Banque CI.

“I am delighted with this partnership, which once again confirms NSIA Banque CI's ability to respond effectively to the strategic development needs of our institution. The renewal of this important line of financing will enable the SIR to ensure a constant and sustained supply of raw natural resources in the country and the sub-region,” said Mr. Thomas CAMARA, Managing Director of the SIR.

Following this signing of the agreement, the two parties welcomed this collaboration which illustrates, once again, their respective commitments to provide more quality services and meet the demand of the Ivorian and sub-regional market. NSIA Banque CI, a privileged partner of the SIR, has been supporting the refinery for several years in major projects and reaffirms its commitment to companies that contribute sustainably to Ivorian economic development.

About NSIA CI Bank
Subsidiary of the pan-African NSIA Group, present in 12 countries and leader in Insurance and Banking, NSIA Banque CI is part of the banking division of the said group with 3 banks and 3 branches in West Africa. Listed on the Regional Stock Exchange (BRVM), it now has more than 80 branches in Côte d'Ivoire, has a fleet of more than 120 machines, as well as a representative office in Paris (France ) dedicated to the diaspora. From then on, it positioned itself as the privileged partner of Individuals and Companies. It strongly contributes to the development of the Ivorian economy by financing several projects; which earned it a second prize for excellence, that of “Best institution in the financial sector”, awarded by the State of Côte d'Ivoire, in the category “Field of economic and financial management”. It has nearly 1,000 employees.

About the SIR
The first company in Côte d'Ivoire, the Société Ivoirienne de Raffinage (SIR) was created in 1962 and started its first crude oil processing unit in 1965. With an initial area of 40 ha, it expanded to increasing its capacity to reach 80ha and currently processes 3,800,000 tonnes per year. The competence of its staff and the performance of its facilities have earned it multiple distinctions: Level 8 (on a scale of 10) of the SIES (International Safety Rating System), ISO 9001 Version 2015 certification (quality) on all product lines, ISO 14001 version 2015 certification (Environment), Ivorian Quality Award, COFRAC accreditation (French Accreditation Committee) of the laboratory, GESIP Safety Trophies (Petroleum and Chemical Industry Safety Study Group) . Corporate citizen, socially responsible and respectful of the environment, the SIR is recognized worldwide as an organized company whose working methods allow it to control its processes and thus work for the satisfaction of its customers and the improvement of its profitability. »

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