The Agence de promotion de l'inclusion financière de Côte d'Ivoire (APIF-CI) has launched a project to accelerate the development of the FinTech sector in Côte d'Ivoire. The project, which was launched on October 6, 2026, in Abidjan, aims to create a dynamic and competitive FinTech ecosystem. The project is being implemented in collaboration with the Programme d'appui à l'amélioration du climat des affaires en Côte d'Ivoire (PACACI).
The project addresses several constraints facing the FinTech sector, including capacity building, access to financing, innovation, infrastructure, and regulatory environment. Studies conducted between 2020 and 2025 identified these challenges. To address them, the project will establish an updated database of FinTech companies, enhance their technical and managerial capacities, and facilitate partnerships with financial sector players.
A key focus of the project is on supporting FinTech startups to boost their development, competitiveness, and participation in the ecosystem. Patrice Brou, interim director-general of APIF-CI, emphasized the importance of stakeholder engagement, including FinTech companies, financial institutions, investors, regulators, and technical and financial partners. He encouraged them to actively participate in the project's implementation.
Mougo Komenan, coordinator of PACACI, highlighted the significance of financial inclusion in Côte d'Ivoire's economic transformation. He noted that access to financial services and tools is crucial for economic development and growth. Komenan emphasized that FinTech companies can play a vital role in promoting financial inclusion by leveraging their innovative capabilities and technological expertise.
The project's launch was attended by Dely Soumahoro, technical advisor to the Minister of Economy, Finance, and Budget. Soumahoro stressed that the initiative aims to enhance FinTech contributions to financial inclusion by promoting accessible and tailored digital solutions for populations and businesses, including those in remote areas. He reiterated the government's commitment to supporting the FinTech sector's sustainable development.
Data from the Banque centrale des États de l'Afrique de l'Ouest (BCEAO) indicates significant progress in Côte d'Ivoire's financial sector. Between 2019 and 2024, the number of electronic money service points per 1,000 square meters increased from 574 to 1,325. The usage rate of electronic money services also rose from 61% to 84.2% during the same period.
The strict bank penetration rate in Côte d'Ivoire grew from 19.1% in 2019 to 33.6% in 2024. When including microfinance institution accounts, the rate reached 46.2% in 2024, up from 30.8% in 2019. The project's success is expected to further boost these indicators, promoting financial inclusion and economic growth in Côte d'Ivoire.
Key points
- The project aims to establish an updated database of FinTech companies and enhance their technical and managerial capacities.
- The initiative focuses on supporting FinTech startups to boost their development and competitiveness.
- The project seeks to promote financial inclusion by leveraging FinTech innovations and technological expertise.
