On Monday, April 3, 2023, the International Finance Corporation (IFC), a subsidiary of the World Bank, announced that it had invested $77 million in a risk-sharing mechanism in favor of Bank of Africa (BOA). This was to support economic activity and job creation in ten sub-Saharan African countries.

SFI's investment will facilitate access to finance for small businesses, especially those located in fragile and conflict-affected countries as well as in the Sahel. These are 10 countries such as Benin, Burkina Faso, Ivory Coast, Ghana, Mali, Niger, Senegal, Togo as well as Madagascar and Tanzania. This investment will also guarantee 50% of a loan portfolio, for a maximum amount of $154 million, to companies operating in particular in the agriculture, commerce, energy and construction sectors.

Boa should be able to provide 12,000 new loans, including at least 2,000 to women-owned businesses, which often face greater barriers to accessing finance, through this risk-sharing mechanism.