The Agency for the Promotion of Financial Inclusion (APIF) officially launched the Fintech Sector Support Project in Ivory Coast on 6 October 2026 in Abidjan-Plateau. Supported by the Ministry of Economy, Finance and Budget with financial backing from the African Development Bank (BAD) through the Program to Support the Improvement of the Business Climate in Ivory Coast (PACA-CI), this initiative is aimed at technology companies in the financial sector.
Its objective is to boost innovation, strengthen the skills of stakeholders, and expand access to financial services for all populations. Favorable environment: Ivory Coast benefits from a socio-economic context particularly conducive to the development of digital finance.
The population is very young, with approximately 75% to 75,6% inhabitants under 35 years of age, representing between 24,5 and 24,7 million people. This demographic and economic dynamic attracts massive investment.
In 2024, more than 250 billion FCFA, or approximately 446 million USD, were injected into the national digital ecosystem. The country also has 40,9 million mobile internet subscriptions and features numerous incubators and shared workspaces.
Mobile money: By nature, a fintech is an innovative company that uses digital technologies to offer simple, fast, and accessible financial services. In Ivory Coast, mobile money has established itself as the main driver of these technologies.
With 26,8 million registered accounts in the first quarter of 2026, mobile money has made it possible to reach populations usually excluded from the traditional banking system. The number of service points per 1 000 km² went from 574 in 2019 to 1 325 in 2024.
The utilization rate of these services climbed from 61% to 84,2% over the same period. Overall financial inclusion has thus improved significantly, reaching 58% in 2024 compared to 41% in 2017.
Persistent obstacles: Despite these significant advancements, fintechs remain young companies facing multiple development constraints. They encounter serious difficulties in accessing the financing necessary for their expansion.
Strengthening the technical skills of teams constitutes another significant challenge. Furthermore, the vast majority of solutions offered remain primarily concentrated on payment corridors such as money transfers and daily settlements, which limits the diversification of services.
Demanding compliance: These common difficulties are compounded by the regulatory framework imposed by the BCEAO. The minimum capital requirements, set between 10 and 100 million FCFA, constitute a significant financial barrier for startups.
Added to this are high costs for compliance and interoperability. Moreover, the absence of a single license valid for the entire UEMOA zone forces companies to multiply authorization requests in each country, which hinders regional expansion and risks stifling the most innovative actors.
Targeted support: It is precisely to support companies in this rigorous context that the project is being launched. It aims to put in place a robust, resilient, and structured ecosystem.
The initiative promises to support startups in their compliance efforts, help them diversify their offerings beyond payments, and facilitate their growth. Funded at 684 million FCFA, or nearly 900 000 units of account, this program intends to transform digital finance into a true tool for sustainable prosperity for all.
Anselme Akéko. Published on 09/10/26 08:52.
The Editorial Staff