Female entrepreneurship: The “Gender Bond” project financed to the tune of 10 billion FCFA

The Pan-African Bank of Côte d’Ivoire held its second Ordinary General Assembly of the year on October 4, 2024, in Abidjan, under the chairmanship of Michel Aka-Anghui, Chairman of the Board of Directors, and representatives of the management of the banking institution. This event marks a key milestone in the bank’s commitment to women’s economic empowerment. The “Gender Bond” aims to raise 10 billion CFA francs in order to finance initiatives in favor of women in Côte d’Ivoire. This operation, which will be subject to approval by the regulator, provides for the issue of one million bearer bonds, with a nominal amount set at 10,000 CFA francs per security. The duration of the bond will be five years, with a capital repayment deferral of two years and an interest rate of 6.5%.

In his opening speech, the Pca underlined the banking structure’s commitment to improving access to financing in order to reduce gender inequalities in Côte d’Ivoire. He highlighted the importance of accelerating initiatives aimed at supporting female entrepreneurship, a central pillar of the bank’s growth, transformation and performance strategy.

Following the General Assembly, a press conference was organized. Michel Aka-Anghui said: “Ecobank Côte d’Ivoire’s Gender Bond embodies our vision of a new stage in sustainable and inclusive finance. We are convinced that this innovative financial instrument will mobilize essential resources to support female entrepreneurship and contribute to reducing gender inequalities. »

Jean-Pierre N’guessan, director of treasury, administrator and representative Paul-Harry Aithnard, general manager of Ecobank Côte d’Ivoire, added: “This Gender Bond is a powerful lever to finance female entrepreneurship and contribute to Sustainable Development Goals (Odds), in particular Odd 5 which aims for gender equality. We are taking the next step in creating financial solutions that will have a direct impact on women’s economic empowerment. »

Since 2020, thanks to the Ellever program, the bank has strived to support women entrepreneurs by offering them adapted economic and managerial tools. In Côte d’Ivoire, women entrepreneurs represent around a third of registered SMEs, but still encounter great difficulties in accessing financing, which hampers their development potential.

This Ordinary General Assembly was mainly dedicated to the presentation of the “Gender Bond” project, a first in West Africa. This initiative reflects Ecobank’s spirit of innovation and aims to mobilize capital flows in favor of women entrepreneurs.