The National Economy

Côte d'Ivoire, with a US$ 69.8 billion GDP in 2021, is a lower middle-income country. West Africa’s second largest economy is driven by the production of cocoa, cashews, other food crop cultivation and cotton. After years of civil war, political stability has returned, which has led to the African Development Bank reopening its headquarters in Abidjan, reinforcing expectations of sustained economic recovery. Located on the coast, the country benefits from a climate favourable for agricultural production. Simultaneously, industrial production is also growing as major public infrastructure projects are implemented.

AKDN is present in the large economic and social structures of the country. We operate Azito Power, a US$ 615 million investment and the largest private-sector power plant in Sub-Saharan Africa, which provides more than 25 percent of Côte d'Ivoire's electricity generation capacity. We also invest in Ivoire Coton.

PAMF-CI

Unlike most MFIs, PAMF-CI has a strong rural focus. The agency extends loans primarily intended to improve agricultural productivity, acquire livestock and, diversifying its portfolio, assist in establishing small enterprises in rural and urban areas. In spite of political insecurity, PAMF-CI is one of the few microfinance institutions to remain operational in the rural areas of the north. In the past few years, PAMF-CI has achieved strong annual growth in deposits, following its strategy of building a solid deposit base to fuel its activities, with 40 percent of borrowers also being savers.

PAMF-CI has also sought to balance its loan portfolio with nearly 50 percent rural and 50 percent urban loans, allowing it to thrive along with the continuing economic growth of the country that is largely in urban areas while staying true to its social mission. Women have grown to constitute a third of PAMF-CI’s borrowers.

PAMF-CI’s longstanding and very successful group-lending programme remains one of the most popular forms of obtaining credit and has provided a loyal customer base. Loans are primarily extended in order to improve agricultural productivity, acquire livestock, diversify products and establish small enterprises in rural and urban areas. Group loans offer both customers and PAMF-CI a more secure loan scheme, as loans can be repaid after the output of the final product.

PAMF-CI also collaborates with Ivoire Coton, an AKFED company. To extend its reach and facilitate current clients’ access to financial services, PAMF-CI has carried out in-depth market research on mobile banking. It will focus on providing digital financial services as part of its objectives for the near future.