Côte d’Ivoire Launches New Project to Boost FinTech Sector and Financial Inclusion

Côte d’Ivoire has launched a targeted support initiative to expand its burgeoning financial technology sector, aiming to bridge critical gaps in financial inclusion. Soumahoro Dely, technical adviser and representative for the Ministry of Economy, Finances, and Budget, officially opened the launch workshop for the fintech support project on Oct. 6, 2026, according to reporting by APAnews. Co-financed by the African Development Bank (AfDB) and the Ivorian government through the Programme d’Appui à l’Amélioration du Climat des Affaires en Côte d’Ivoire (PACA-CI), the project seeks to overcome major structural hurdles holding back local start-ups.

Expanding Fintech Beyond Basic Transfers

While digital finance has expanded rapidly across West Africa, local fintech solutions in Côte d’Ivoire remain overly concentrated on basic money transfers and payment services. Ministry representative Soumahoro Dely noted during the opening workshop that the sector must diversify its offerings to address unmet financial needs among consumers and small businesses, as reported by APAnews. Patrice Brou, acting director of the Agence de Promotion de l’Inclusion Financière de Côte d’Ivoire (APIF-CI), echoed that sentiment by identifying persistent barriers such as limited access to funding, technical capacity gaps, and regulatory compliance hurdles that prevent small firms from scaling.

Tracking Financial Inclusion Growth From 2019 to 2024

Official metrics highlight substantial growth in Ivorian digital finance and banking access over a five-year period. Citing Central Bank of West African States (BCEAO) figures, APAnews reported that electronic money service points surged from 574 per 1,000 square kilometers in 2019 to 1,325 in 2024. The utilization rate for electronic money climbed from 61% to 84.2% over the same timeframe. AIP reported that strict banking penetration rose from 19.1% in 2019 to 33.6% in 2024, while broader inclusion—incorporating microfinance accounts—reached 46.2% in 2024 compared to 30.8% in 2019. Soumahoro Dely also noted that the overall financial inclusion rate moved from 41% in 2017 to 58% in 2024, based on World Bank Global Findex figures.

New Database and Training to Boost Local Fintechs

To tackle structural constraints, the new initiative will update the national directory of fintechs and provide targeted technical and managerial training. Moussa Doumbia, general director of the Bureau d’Études de Développements Électroniques et Technologiques (BEDET), explained to APAnews that compiling an exhaustive database will lay the groundwork for a national roadmap designed to make local fintechs more competitive and innovative. PACA-CI coordinator Komenan N’Da Mougo emphasized that economic transformation remains incomplete if any segment of the population stays sidelined from official financial circuits, stating, L’enjeu est plus large. Il s’agit de faire en sorte que les FinTech puissent mettre leurs capacités d’innovation et leur maîtrise des technologies financières au service de l’inclusion financière et de l’inclusion du plus grand nombre.

Next Steps for Ivorian Start-Ups

Following the October 2026 workshop involving the BCEAO, banking representatives, and the Ministry of Digital Transition, all small and medium-sized enterprises and inclusion start-ups are invited to register for upcoming capacity-building programs.