Analysis: Swedfund Invests $5 Million in Bridge Bank Microfinance to Enhance Financial Inclusion in Côte D’Ivoire
By Tapiwa Matthew Mutisi
Sweden’s Swedfund, a development finance institution (DFI), and African-based credit fund BluePeak Private Capital Fund have invested in West Africa-based Teyliom Finance. Swedfund contributed $5m out of the combined investment of $25m, which aims to strengthen financial assistance for micro, small and medium scale enterprises (MSMEs), particularly those owned by women in Côte D’Ivoire.
The funds will be managed by Teyliom Finance’s subsidiary, Bridge Bank Microfinance (BBM). Swedfund anticipates that the loan will enhance financial access for women, boost the growth of MSMEs, and subsequently generate income and employment opportunities in West Africa.
Photo courtesy of International Monetary Fund.
