BOAD grants a 6th refinancing facility to Fidelis Finance Burkina Faso
Lomé, 3 May 2018. A XOF5 billion loan agreement in favour of Fidelis Finance Burkina Faso was signed by and between Messrs. Bassary Touré, Vice-President of BOAD, and Abdoulaye Kouafilann Sory, CEO of Fidelis Finance Burkina Faso.
This sixth loan to Fidelis Finance is as part of the second programme undertaken by BOAD and KfW, its German partner, to support WAEMU small and medium-sized enterprises (SMEs) in financing their investments for increased productivity and competitiveness and contribute to wealth and job creation within the region. This was therefore made as a result of a positive review of previous loans. Actually, in terms of impacts, the on-lending of the fifth refinancing facility made it possible to create roughly 522 jobs in the building and civil industry, transport, ICT, trade and service sectors. Investments allowed for improved working conditions, competitiveness and profitability in operations of recipient enterprises.
This loan brings the overall refinancing facilities extended by BOAD to a total amount of XOF240.022 billion.
About Fidelis Finance
Fidelis Finance is a bank credit institution registered on the WAMU roster of banking institutions in Burkina Faso and Côte d’Ivoire. The institution is specialized in financing companies’ production tools, mainly SMEs/SMIs. It has developed a proven expertise in providing financial services tailored to companies’ investment and cash requirements (working capital): leasing, credit, lease-purchase, long-term leasing, factoring, bills discounting, securities and payment guarantees. Fidelis Finance has, year in year out, broadened and diversified its group of partners which includes leading institutions such as AfDB, BOAD, EBID, FSA, FMO, AfriCapital, FBDES, Sunu Assurances Group.
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