Social Issue

Côte d’Ivoire’s economy has experienced a strong economic revival over the last decade. The agriculture sector accounts for about 23% of Cote d’Ivoire’s total GDP and over two-thirds of all exports. Agricultural activities employ close to 46% of the active population and provide the main source of income for two-thirds of households. The country has enormous agricultural potential. However, the lack of access to finance for smallholder farmers is a strong impediment to growth. In Côte d’Ivoire, many individuals and small businesses are financially excluded, and access to finance can be a challenge, particularly in rural areas.

Our Response

Netri has provided a local currency loan to Baobab Côte d’Ivoire, the largest subsidiary of the Baobab Group that focuses on providing financial services to underserved groups in seven African countries. Baobab Côte d’Ivoire mainly provides microcredit loans for the operation of small shops and businesses, and has an extensive branch network across the country, and is increasing its exposure to the agricultural sector. It plans to offer agricultural loans to small farmers, who are often a very poor and underserved group in the country. Netri’s loan will be used to provide loans to these small farmers.

Expected Social Impact

With this loan from Netri, it is estimated that Baobab CI will be able to provide more than 400 micro loans, with the aim of improving the performance and opportunities of smallholder farmers in Côte d’Ivoire.