Incofin helps Advans Côte d’Ivoire bring affordable financial services to the client’s door step

December 18, 2018

While only 15% of the adult population in Ivory Coast has a bank account, almost half of the population is using mobile internet services. This presents a tremendous opportunity for increasing the level of financial inclusion in the country by bringing affordable financial services to the client’s door step in a timely and cost-effective manner.

Through its Technical Assistance program, Incofin cvso is supporting Advans Côte d’Ivoire (CI) in scaling up existing and launching new products and services offered through mobile and agent banking channels. Among those is a digital emergency loan to help Advans CI’s clients cope with health and family emergencies. Clients can access this loan directly through their mobile phones. In addition, they can transfer money from their bank account to a mobile wallet to make payments as well as to send the money to friends or relatives in urgent need of cash.

Thanks to Incofin cvso’s support, the transaction volumes have increased 10-fold and will continue to grow. Incofin cvso is also supporting Advans CI in implementing a unique agent banking solution in partnership with the fintech company InTouch, which enables clients to deposit and withdraw money at one of the 38 agents and 48 TOTAL gas stations throughout the capital city Abidjan. The customer can recognize an agent by a colorful board with Advans CI’s name and logo at his shop window. By identifying herself with an ID card and a mobile phone number, the client can deposit or withdraw cash directly to or from her pocket.

Advans Côte d’Ivoire (CI), a microfinance institution offering credit, savings, insurance and payment services to the bottom of the pyramid micro, small and medium entrepreneurs in Ivory Coast won this year’s prestigious European Microfinance Award for a mobile banking solution enabling cocoa farmers to save and also access education loans for their children.

Read more about Advans on our website.