Access to Capital - Cote d’Ivoire
Côte d'Ivoire: Brief overview of special public funds dedicated to women
In Côte d'Ivoire, in recent years, major actions have been taken to improve the status of women. Especially,
- The girl's schooling
- Literacy policy (Example: Rural animation and training activities in Women's Training and Education Institutes (IFEF) in urban or peri-urban areas)
- The establishment of special funds, dedicated to female entrepreneurship.
The quotSupport Fund for the Women of Côte d'Ivoire (FAFCI)
Firmly believing in the economic potential of women, Mrs. Dominique OUATTARA, First Lady of the Republic of Côte d'Ivoire, created in 2012, a Support Fund for Women in Côte d'Ivoire (FAFCI), to finance their micro -projects. The objectives of this fund are to promote the empowerment of women by improving their income, to strengthen their entrepreneurial capacities and to fight against unemployment.
The FAFCI is accessible to all women in Côte d'Ivoire, at a reduced interest rate of 1% including tax per month. Today, the FAFCI credit system totals a total amount of 25 billion CFA francs for the empowerment of women across Côte d'Ivoire. This invested capital has enabled more than 170,000 beneficiaries to carry out income-generating activities for the benefit of their children and families . Since March 11, 2019, quotThe Support Fund for the Women of Côte d'Ivoire (FAFCI) has been endowed with a capital of 12 billion FCFA, thanks to the renewed confidence of the Head of Statequot, declared Mrs. Dominique OUATTARA.
To this must be added direct support to women's groups in agricultural materials and inputs , as well as training in business management granted to them.
The Innovative Women and Development Fund (FNFD)
Housed within the Ministry of Women, Family and Children, this fund currently has 584 million FCFA available to support income-generating activities for women in Côte d'Ivoire.
Since the effective start of the project in 2007 until 2018:
- A total amount of 800,000,000 FCFA is made available each year to DFS;
- 59 different Decentralized Financial Systems (DFS) took part in the project and 28 are still involved;
- A total of 13,445 loans were distributed by DFS;
- The average amount of funds received by SFD at each phase of the loan amounts to 40,710,526 FCFA;
- The average amount per loan distributed is 182,343 FCFA.
The implementation of the PGNFNFD during ten (10) years of activities has made it possible to identify the following achievements:
- Creation of 5,628 jobs;
- Financial empowerment of beneficiaries, 37.40% of whom employ staff;
- 63.32% of beneficiaries fund their savings account;
- Schooling of children and payment of medical expenses, household and family expenses by the beneficiaries.
- Increase in the recovery rate from 63% in 2008 to 92.7% in 2015 and 98% in 2018 with the involvement of Specialized Agents in the supervision of beneficiaries.
The Support Fund for the Development of Women Entrepreneurs
Endowed with an amount of 5 billion, at the General Directorate of SMEs of the Ministry of Commerce, the Support Fund for the Development of Women Entrepreneurs, aims to boost female entrepreneurship, to make national champions of SMEs and large companies in Ivory Coast.