Question 1

What is Coopérative d'Épargne et de Crédit de Divo?

Accepted Answer

Coopérative d'Épargne et de Crédit de Divo is a savings and credit cooperative operating in Côte d'Ivoire. It is a member institution of the Union Nationale des Coopératives d'Épargne et de Crédit de Côte d'Ivoire (UNACOOPEC-CI), the country's premier microfinance network.

As part of UNACOOPEC-CI's network of 24 cooperatives, it provides accessible financial services to members in the Divo region, focusing on financial inclusion for individuals and small businesses that lack access to traditional banking services. The cooperative operates under mutual and cooperative principles established by West African microfinance regulations.

Question 2

When was Coopérative d'Épargne et de Crédit de Divo founded?

Accepted Answer

The specific founding date of Coopérative d'Épargne et de Crédit de Divo is not publicly available. It operates as part of the UNACOOPEC-CI network, which was established in 1976 with the creation of the first Coopératives d'Épargne et de Crédit (COOPEC) in Côte d'Ivoire.

The UNACOOPEC-CI network was founded to promote rural and peri-urban development through accessible financial services. Over more than 45 years, the network has evolved into the leading microfinance institution in Côte d'Ivoire, winning the award for Best Microfinance Institution of Côte d'Ivoire at the 2020 Business Awards.

Question 3

Where is Coopérative d'Épargne et de Crédit de Divo headquartered?

Accepted Answer

Coopérative d'Épargne et de Crédit de Divo is headquartered in Divo, the capital city of the Lôh-Djiboua Region in southwestern Côte d'Ivoire. Divo is located approximately 188 kilometers from Abidjan, the country's economic capital.

Divo is a significant urban center with a population of approximately 295,000 inhabitants, making it the sixth-largest city in Côte d'Ivoire. The city serves as a major commercial hub for the surrounding agricultural region.

Question 4

Where does Coopérative d'Épargne et de Crédit de Divo operate?

Accepted Answer

The cooperative primarily serves Divo and surrounding communities within the Lôh-Djiboua Region. Divo Department encompasses several sub-prefectures including Chiépo, Didoko, Hiré, Nébo, Ogoudou, and Zégo, all of which are part of the cooperative's service area.

As a member of the UNACOOPEC-CI network, it benefits from connections to over 144 service points across Côte d'Ivoire. The Divo region is characterized by palm oil plantations, cacao cultivation, and diverse agricultural activities that form the backbone of the local economy.

Question 5

What services does Coopérative d'Épargne et de Crédit de Divo offer?

Accepted Answer

As part of the UNACOOPEC-CI network, Coopérative d'Épargne et de Crédit de Divo offers comprehensive financial services including:

Savings Products: Various savings accounts including regular deposits, special savings programs, and the COOPEC Épargne Bonus product with quarterly lottery drawings for savers.

Credit Facilities: Member loans based on savings capacity, including personal loans, business development credit, and agricultural financing. The network provides online loan simulators for members.

Transfer Services: Domestic and international money transfer services, salary domiciliation, and pension payment services.

Insurance Products: Micro-insurance offerings including funeral insurance, health insurance, and savings-linked insurance products.

Government Programs: Administration of various government social programs (PS-GOUV) and the National Program for Participatory Microfinance (PNMP-CI), funded by the Islamic Development Bank.

Question 6

What makes Coopérative d'Épargne et de Crédit de Divo unique?

Accepted Answer

The cooperative operates on democratic mutualist principles where each member owns a share and participates in governance through elected representatives. Members exercise control through the "one person, one voice" voting system at General Assemblies.

As part of UNACOOPEC-CI, it benefits from ISO 9001:2015 certification, making it part of the only Ivorian microfinance institution with international quality standards recognition. The parent network serves over 1 million members and has channeled more than 1,795 billion CFA francs into the Ivorian economy.

The cooperative serves Divo's diverse population, including the indigenous Dida people and various communities from across Côte d'Ivoire and West Africa, reflecting the city's role as a major crossroads and commercial center.

Question 7

What type of financial institution is Coopérative d'Épargne et de Crédit de Divo?

Accepted Answer

Coopérative d'Épargne et de Crédit de Divo is a Savings and Credit Cooperative (Coopérative d'Épargne et de Crédit), a category of microfinance institution regulated under Ivorian Law No. 96-562 of July 22, 1996, which governs mutual and cooperative savings and credit institutions.

As a cooperative, it functions as a democratic, not-for-profit organization where members pool savings to create a common fund for lending. It operates under the supervision of the Ministry of Finance and the Central Bank of West African States (BCEAO), which oversees microfinance regulation throughout the WAEMU (West African Economic and Monetary Union) zone.

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