Impact Fund Denmark is investing EUR 25m (DKK 187m) in subordinated debt to NSIA Bank, the second-largest bank in Côte d’Ivoire, a subsidiary of the pan-African NSIA Group, to support its plans to increase lending to micro, small and medium-sized enterprises (MSMEs) annually over the coming years.
MSMEs account for the majority of employment in Côte d’Ivoire, yet a large share still lacks access to adequate financing. Difficulties in accessing finance remain one of the largest structural barriers to business growth and economic development.
Increasing financial inclusion
NSIA is one of the leading banks in Côte d’Ivoire, with total assets of EUR 4.7 billion and a nationwide network of 85 branches across the country. The investment will strengthen the bank’s capital base, enabling it to scale lending to underserved MSMEs and support its long-term growth strategy.
NSIA has demonstrated a strong track record in growing its market presence and MSME loan portfolio, making it both a compelling investment opportunity and also an important partner in advancing financial inclusion in Côte d’Ivoire.
Commenting on the partnership, Mr. Léonce Yacé, Chief Executive Officer of NSIA Bank Côte d’Ivoire, said
This partnership with Impact Fund Denmark reflects the confidence placed in NSIA Bank Côte d’Ivoire and in the strength of our business model. It reinforces our ability to support entrepreneurs and SMEs, while expanding financing for sustainable projects that contribute to Côte d’Ivoire’s economic transformation. We are proud to join forces with a partner that shares our ambition to foster inclusive and sustainable growth.
Impact Fund Denmark’s investment will primarily support MSMEs, with 80 per cent of the funds allocated to this segment. In addition, 20 per cent of the capital will be directed to green financing, to support companies operating in areas such as renewable energy and e-mobility.
The investment reflects Impact Fund Denmark’s core mission – contributing to building just and inclusive societies.
Managing Director and Head of Financial Services
Rohit Goyal
+45 33 63 75 68
Senior Investment Manager
Ipek Zekey
+45 33 44 12 56
