Question 1

What is Atlantic Microfinance for Africa Côte d'Ivoire?

Accepted Answer

Atlantic Microfinance for Africa Côte d'Ivoire (AMIFA-CI) is a specialized microfinance institution serving micro-entrepreneurs and small businesses in Côte d'Ivoire. The institution is a subsidiary of AMIFA holding, which was created by Morocco's BCP Group (Banque Centrale Populaire) to expand microfinance services across sub-Saharan Africa.

AMIFA-CI focuses on financial inclusion by providing accessible financial services to low-income populations and micro-entrepreneurs in both formal and informal sectors. The institution targets individuals aged 18 to 60 who operate income-generating activities in urban and rural areas.

Question 2

When was Atlantic Microfinance for Africa Côte d'Ivoire founded?

Accepted Answer

AMIFA-CI was founded in 2014 as part of a strategic initiative following diplomatic visits by King Mohammed VI of Morocco to West and Central Africa in 2013 and 2014. The institution was established to strengthen South-South development cooperation and combat poverty through financial inclusion.

On June 11, 2015, AMIFA-CI received its operating license from Côte d'Ivoire's Ministry of Economy and Finance. The institution began zoning and prospecting operations in August 2015, and in October 2015, it disbursed its first credits to eligible populations. The first AMIFA-CI agency was officially inaugurated on December 22, 2015, in the Yopougon commune of Abidjan, in the presence of Mohamed Benchaâboun, president of BCP Group.

Question 3

Where is Atlantic Microfinance for Africa Côte d'Ivoire headquartered?

Accepted Answer

AMIFA-CI is headquartered in Angré, specifically in the Angré 7th district (7ème tranche) in Cocody, Abidjan. The headquarters is located on the ground floor of the building, across from the Supreme Court. The institution's registered office is at Avenue Joseph Anoma, Abidjan-Plateau.

Question 4

Where does Atlantic Microfinance for Africa Côte d'Ivoire operate?

Accepted Answer

AMIFA-CI operates through an extensive branch network across Côte d'Ivoire, covering major urban centers and regional cities. The institution has agencies in:

Abidjan and surrounding areas: Yopougon, Abobo, Anyama, Treichville, Bingerville, Koumassi, and Cocody

Regional cities: Bouaké, Yamoussoukro, Daloa, San-Pedro, Korhogo, Soubré, Divo, and Gagnoa

The institution originally planned to expand to approximately 20 branches by 2017, targeting 19,200 clients and creating 120 jobs across various regions of the country.

Question 5

What services does Atlantic Microfinance for Africa Côte d'Ivoire offer?

Accepted Answer

AMIFA-CI provides a comprehensive range of microfinance products and services:

Credit services: Solidarity loans (crédit solidaire) based on group lending with mutual guarantee systems for low-income populations without collateral, and individual loans for micro-entrepreneurs with established business histories or those starting new enterprises requiring working capital or investment financing.

Savings products: A diversified portfolio of savings products designed for micro-entrepreneurs, combining liquidity, returns, and security.

Financial services: Micro-insurance products, rapid money transfer services, and mobile banking capabilities for convenient account management.

Non-financial services: Financial education programs, customized client support and mentoring, and marketing assistance for micro-enterprises.

The institution specifically targets micro-entrepreneurs in the informal sector who lack access to traditional banking services and require flexible financing solutions.

Question 6

What makes Atlantic Microfinance for Africa Côte d'Ivoire unique?

Accepted Answer

AMIFA-CI distinguishes itself through several key features:

Progressive lending model: The institution offers an evolutionary credit system where clients can graduate from solidarity group loans to individual loans after successfully completing three group credit cycles with excellent repayment histories. This approach supports the transition from informal to formal economic sectors.

Pan-African expertise: AMIFA-CI benefits from BCP Group's extensive experience in microfinance, particularly the Moroccan model that has been successfully operating since 1998. This expertise is adapted to local West African contexts.

Comprehensive support system: Beyond financial products, the institution emphasizes client education, business development support, and financial literacy programs to ensure sustainable entrepreneurship and economic empowerment.

Strong early performance: During its initial months of operation in 2015, AMIFA-CI demonstrated impressive results, with 473 accounts opened, 307 million CFA francs in credits disbursed, and high approval rates (392 approved out of 423 credit applications).

Question 7

What type of financial institution is Atlantic Microfinance for Africa Côte d'Ivoire?

Accepted Answer

Atlantic Microfinance for Africa Côte d'Ivoire is a microfinance institution (institution de microfinance) regulated by the Banking Commission of UMOA (Commission Bancaire de l'Union Monétaire Ouest-Africaine).

As a société anonyme (public limited company) with a board of directors, AMIFA-CI is authorized to collect deposits from micro-entrepreneurs and small and medium-sized enterprises, and to conduct lending, discounting, credit acquisition, guarantee, and placement operations within the regulatory framework of the West African Economic and Monetary Union (UEMOA). The institution was established with initial capital of 232 million CFA francs and operates under specific microfinance regulations that distinguish it from traditional commercial banks.

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