Oikocredit invests in Witti Finances to support financial inclusion in Côte d’Ivoire

Oikocredit invests in Witti Finances to support financial inclusion in Côte d’Ivoire

witti logo1.png31 July 2023

Oikocredit’s € 3 million loan will enable the Ivorian microfinance institution to expand and enhance its financial services.

Amersfoort, the Netherlands – Social impact investing cooperative Oikocredit is entering into partnership with Witti Finances in Côte d'Ivoire to support the  microfinance institution in its provision of financial services in underserved Ivorian communities.

Based in Abidjan, Côte d’Ivoire’s largest city, Witti Finances Côte d'Ivoire is dedicated to financial inclusion and sustainable development. It will use Oikocredit’s loan to further its mission of improving access to affordable and responsible financial products and services, including loans, savings accounts, electronic banking, insurance and financial education for Ivorian small and medium enterprises (SMEs) and individuals.

With this investment, Witti Finances, with its client-centric approach, deep understanding of the local context and commitment to leveraging innovative financial technology, will accelerate its work expanding inclusive finance across Côte d'Ivoire, enhance its product offerings and improve its technological infrastructure.

Rodrigue Kouadio, Chief Executive Officer of Witti Finances Côte d'Ivoire, said: “Our institution is delighted with this new partnership with Oikocredit, which will reinforce our impact and enable us to significantly increase our commitment to local SMEs.”

Celia Touré, Investment Officer at Oikocredit, said: “Witti Finances’ commitment to innovation and quality tailor-made services make it a highly promising partner for our cooperative, and we look forward enthusiastically to working together in Côte d'Ivoire to help build a more inclusive economy.”

Photo Witti

About Witti Finances

Witti Finances is a leading microfinance institution present since 2021 in Côte d'Ivoire and from 2023 in Burkina Faso. Witti Finances Côte d'Ivoire is now one of the largest systèmes financiers décentralisés (decentralised financial systems, SFDs) on the Ivorian market with a network of 12 branches in 7 locations and a portfolio of around 9,500 clients. As a trusted financial partner, Witti Finances enables entrepreneurs to develop their businesses with confidence. Witti Finances is strongly oriented towards SME financing and also addresses the needs of private individuals.

For more information, visit https://wittifinances.com/

About Oikocredit

Social impact investor and worldwide cooperative Oikocredit has nearly five decades of experience funding organisations active in financial inclusion, agriculture and renewable energy.

Oikocredit’s loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably.

Oikocredit finances more than 500 partners, with total outstanding capital of € 1,010.6 million (at March 2023).

For more information, visit www.oikocredit.coop   




Note for editors

For more information or to request an interview, please contact: Viviana Cordero, Communications Business Partner, Oikocredit International, telephone: +31 33 422 4040, email: vcordero@oikocredit.org 

Estelle Gaiho, Head of Communication, Witti Finances, telephone: +225 0759354497, email: estelle.gaiho@wittifinances.com

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