The Cofina Group, the African financial institution based in Côte d'Ivoire, has sealed an alliance with the  West African Development Bank (BOAD), in order to support SMEs with a high environmental and social impact in the WAEMU area, for the next five years. This is indicated in a recent press release issued by this entity specializing in mesofinance, present in eight countries, including Togo, one of its last subsidiaries.

 Together with Boad, their support should consist of financing projects to improve access to electricity in West Africa and the Sahel (through the deployment of autonomous solar kits and off-grid systems). A first component concerns, to this end, the establishment of a refinancing line of 5 billion FCFA, for the Ivorian subsidiary of the Cofina Group.

"It is a great pride for the Cofina Group to sign a partnership of this size with a prestigious institution such as la BOAD ", says CEO Jean-Luc Konan, whose the company settled in Togo this year.

As for the Sub-Regional Development Bank, this partnership marks in particular its (increasingly marked) interests in promoting the energy transition and protecting the environment. Incidentally in Togo, the Bank is exploring avenues of partnership with the African Society of Biofuels and Renewable Energies (SABER –ABREC), to work in favor of the financing of renewable energies.

Ayi Renaud Dossavi

Read also:

Golgol, 9th subsidiary of the Financial Group Cofina

Togo: 317 localities will be electrified by solar mini-grids

Energies Renouvelables : partnership in gestation between BOAD and SABER