Baobab Côte d'Ivoire sets ambitious goals

Baobab Côte d'Ivoire, a microfinance institution established in 2010, has announced ambitions to become the leading microfinance institution in Africa by 2027 and to be among the top five financial institutions on the continent by 2035. The institution, which rebranded from Microcred Côte d'Ivoire in 2019, presented its financial performance and long-term goals during a press conference in Abidjan on October 23, marking its fifteenth anniversary.

Financial performance highlights growth

As of December 31, 2025, Baobab Côte d'Ivoire had a credit portfolio of 209 billion CFA francs (356.3 million dollars), a savings portfolio of 103 billion CFA francs, and shareholders' equity of 37 billion CFA francs. The institution closed the year with a net profit of 10.7 billion CFA francs, compared to about 8 billion CFA francs in 2023. For the first eight months of 2026, its net profit had already reached 8.9 billion CFA francs.

Customer and staff growth

The customer base has also increased, rising from 324,000 customers at the end of 2025 to nearly 350,000 at the end of August 2026. During the same period, the staff exceeded one thousand employees, compared to 929 at the end of the previous fiscal year.

Dominance in the microfinance sector

According to the figures presented by the management, Baobab Côte d'Ivoire alone accounted for 28 percent of the credit outstanding in the Ivorian microfinance sector, 20 percent of its total balance sheet, and 11 percent of its savings. At the level of the West African Monetary Union (UMOA), its shares reached respectively 8 percent, 5 percent and 4 percent. These performances place the institution at the forefront of microfinance institutions in the Union in terms of total balance sheet, ahead of Baobab Senegal, according to the comparisons presented during the conference.

Profitability and market rebalancing

The management also claims the top position in terms of profitability, based on the latest comparable institutional data published by the BCEAO, which date back to 2023. This progress occurs in a context of rebalancing the regional market. According to the data cited by Baobab from the Central Bank, Côte d'Ivoire now represents 26 percent of the total assets of microfinance in the UMOA, a proportion comparable to that of Senegal, historically dominant in this sector. The Ivorian market also concentrates 30 percent of the credit outstanding and 32 percent of the savings in the region.

Credit portfolio quality remains strong

Ruben Dieudonné, general director of Baobab Côte d'Ivoire, emphasized that the quality of the credit portfolio is a determining indicator. The institution has a 90-day delinquency rate (PAR90) of 1.3 percent as of the end of 2025, which rose to 2.2 percent as of the end of August 2026. Despite this increase, the ratio remains below the reference threshold of 3 percent set by the BCEAO for decentralized financial systems. This risk management is a particular challenge for the institution, which went through a period of difficulties in 2017, when its PAR90 was around 9 percent, in a context marked by internal control failures and fraud cases.

Reorganization and support for entrepreneurs

The management then initiated a reorganization of procedures and strengthened its monitoring and recovery mechanisms. Financing small entrepreneurs at the heart of the model, the institution has mainly developed among micro-entrepreneurs and small businesses that have difficulty accessing traditional banking services. It now offers loans ranging from 100,000 to 700 million CFA francs, aimed in particular at financing cash needs, investments, agricultural activities and young businesses.

Loan distribution and business structuring

However, the distribution of its portfolio depends on the definition used for SMEs. According to the management, loans above 60 million CFA francs represent about 20 to 25 percent of the total outstanding. By lowering the threshold to 20 million CFA francs, the share of financing for this category reaches approximately half of the portfolio.

Supporting formalization of informal businesses

Ruben Dieudonné explained that the institution prefers close follow-up, complemented by meetings and training, to support informal sector entrepreneurs in formalizing their activities. This approach allows customers to gradually improve the traceability of their activities and meet the requirements associated with larger financing. The management acknowledges that this progress requires increasing structuring of the companies, especially in terms of financial documentation.

Expanding reach through physical and digital channels

To strengthen its territorial coverage, Baobab has 38 agencies and service points as well as nearly 300 correspondents spread throughout the country. The institution is also developing its digital services, notably through its mobile application and its integration into the interoperable instant payment platform of the UMOA, launched in September 2025.