Automotive manufacturer Stellantis invests in Africar Group to launch its services in Ivory Coast

IVORY COAST – Stellantis, a multinational automotive manufacturing corporation, has invested in the Africar Group, the first automotive marketplace in Africa, to launch Auto24 activities in Abidjan, Ivory Coast. Auto24 is a direct-to-consumer used car company that brings solutions to help ensure transactions are conducted in a transparent and secure way. With the African population set to reach 1.7 billion…

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Wave Mobile Money secures US$91m investment from IFC

WEST AFRICA – IFC has announced a US$91.6 million investment agreement in Wave Mobile Money S.A. (Senegal) and Wave Côte d’Ivoire S.A., two major mobile money service providers in their respective markets, to strengthen financial inclusion and support economic growth in Senegal and Côte d’Ivoire. The funding from the IFC and other investors will allow Wave to expand its operations…

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Proparco grants portfolio guarantees to financial services in Cote d’Ivoire to support MSMSEs

CÔTE D’IVOIRE – Proparco, a Development Finance Institution partly owned by the French Development Agency (AFD), has granted 6 portfolio guarantees to Société Générale Côte d’Ivoire, Ecobank Côte d’Ivoire and Advans Côte d’Ivoire. The guarantee amounts to a total of €30.7 million (US$32.12m), to enable the three financial institutions increase their financing activity for MSMEs in the country. These guarantees,…

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Saft wins contract to store electricity for the Boundiali solar power plant

CÔTE D’IVOIRE – Saft, a subsidiary of the French group TotalEnergies, has won a contract from French industrial engineering company Eiffage Energie Systèmes to deliver a 10MW energy storage system (ESS) for the Boundiali solar PV power plant. The 37.5MWp plant is owned and operated by CI-Energies (Côte d’Ivoire Energies) and is located in Boundiali, a city of about 40,000…

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Bolloré Transport & Logistics to open new Abidjan airport logistics facility

CÔTE D’IVOIRE – International transport and logistics operator, Bolloré Transport & Logistics Cote d’Ivoire is set to open a new logistics facility close to Abidjan airport. Intended to strengthen its offer of services related to the import and export of goods by air, this new infrastructure will have required 18 months of work and an investment of 3.4 billion CFA…

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UN Women, AfDB launch digital market platform for women farmers in Cote d’Ivoire

COTE D’IVOIRE – The UN Women has partnered with African Development Bank (AfDB) to launch a digital market platform in Cote d’Ivoire dubbed Blaatto, aimed to connect women farmers in the country to markets. The platform is part of the UN agency’s Buy From Women initiative, targeting women smallholder farmers and members of women-led agricultural cooperatives in the country’s central…

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Orange inaugurates digital center in Abidjan

CÔTE D’IVOIRE –  French multinational telecommunications corporation Orange and the German Development Cooperation are inaugurating an “Orange Digital Center” in Abidjan, an ecosystem entirely dedicated to the development of digital skills and innovation, attended by the highest political and administrative authorities from Côte d’Ivoire Spread over 1,200m2 for Côte d’Ivoire, the Orange Digital Center brings together the four strategic programs of the…

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Logistic startup Kamtar secures equity investment from Sendy and Toyota

WEST AFRICA – Kamtar, a Francophone logistics platform, has secured an equity investment form Kenyan tech-logistics startup Sendy and Toyota Tsusho Corporation Other investors in the round include Mobility 54 Investment SAS and CFAO’s corporate venture capital arm. Kamtar currently operates in Cote d’Ivoire and Senegal, and targets to expand to other French-speaking West African countries by the end of…

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Bridge Bank Group secures US$11m Murabaha financing from ITFC to support private sector and SMEs

COTE D’IVOIRE – The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), granted a Euro 10 million (US$11.83m) Murabaha financing to Bridge Bank Group, Cote d’Ivoire (BBGCI). The facility represents a significant portion of BBGCI’s remaining 2021 trade financing requirements and enables BBGCI to support the Bank’s growing private sector clients as well…

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Moja Ride startup partners O-CITY for digital innovation and future expansion

COTE D’IVOIRE – Moja Ride, an Ivorian startup providing a reservation and cashless payment system for transport services in Abidjan, has partnered with O-CITY for its next phase of digital innovation and future expansion. Through its open loop platform, O-CITY will enable public transport drivers to accept different payment methods from passengers, including QR code, NFC, and prepaid cards such…

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