Oikocredit invests € 7.5 million in Vista Bank Burkina to support SMEs and educational finance in Africa
Amersfoort, the Netherlands – Impact investor Oikocredit has extended a loan of € 7.5 million to Vista Bank Burkina to support the bank’s portfolio growth, expanding access to finance for small and medium enterprises (SMEs) and educational needs in Burkina Faso.
The bank has ambitious plans to expand its support for SMEs, which constitute the majority of its enterprise clients. The transaction will strengthen Vista Bank Burkina’s outreach to SMEs in key sectors such as transport, agriculture processing and trade.
With the loan from Oikocredit, Vista Bank Burkina will also be able to improve access to educational finance for schools and households.
Vista Bank Burkina is the Burkina Faso subsidiary of the Vista Group, which covers four countries in Africa. Guinea, Gambia and Sierra Leone are the other three.
"This line of financing granted by Oikocredit to Vista Bank Burkina is firmly in line with Groupe Vista’s strategic vision in favour of financial inclusion. Our Group aims to be a major player in the banking sector, supporting and developing SMEs in the implementation of projects with a strong social and environmental impact. The financing from Oikocredit will strengthen Vista Bank Burkina’s capacity to support the development of SMEs by providing access to financing tailored to their needs. This first milestone marks the beginning of a long-term partnership between Vista Group and Oikocredit,” said Mohamed BA, Managing Director of Vista Bank Burkina.
Celia Toure, Investment Officer at Oikocredit said, “This significant financial injection will bolster Vista Bank Burkina Faso’s mission to expand financial inclusion through SMEs, local entrepreneurs, and small businesses to stimulate economic growth and support sustainable development in the region. We are enthusiastic about our partnership with Vista Bank Burkina which will help to create and sustain up to 200 jobs annually in the country. The disbursement signifies a commitment to fostering financial stability and economic empowerment for the people of Burkina Faso.”
Driven by the values of the Vista Group, Vista Bank Burkina strives to remain one of Burkina Faso’s leading banks. The diversity of its products and services ensures its status as a key player in the country’s economic growth. The bank is working to implement innovative strategies and tools that meet both national and international standards to ensure the satisfaction of its customers and partners.
Vista Bank Burkina has a banking network of 15 branches and 28 ATMs serving nearly 40,000 individual, professional and corporate customers throughout the country and in its main economic centres.
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 assets of € 981.1 million (at 30 June 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: firstname.lastname@example.org.
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