COFINA obtains an investment of 40 billion FCFA, for its expansion in Africa

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(Togo First) – The African Financial Company (COFINA), a West African group specializing in mesofinance, has obtained nearly 40 billion FCFA (60 million euros) from Development Partners International (” DPI ), a London-based investment firm focused on Africa. According to the announcement relayed by the Ecofin Agency, this beginning of the week, these funds which constitute a minority stake of DPI in the shareholding of COFINA, will allow the mesofinance specialist to strengthen the development of its activities in Africa. West and Central.

This will include launching “new and differentiated products and services, in order to reach a greater number of customers”.

This constitutes a new boost for the Ivorian group, in full expansion in the region, with a presence in Togo, Senegal, Côte d’Ivoire, Guinea, Gabon, Mali, Congo, and Burkina Faso. .

“Despite the difficulties linked to the pandemic, the Cofina Group has demonstrated its resilience and above all the relevance of its economic model adapted to African ecosystems. Building on this success, we now have DPI, a particularly experienced and trusted investor, at our side. As the Cofina Group opens this new chapter, this transaction will allow us to strengthen our equity to consolidate our positioning and accelerate our digital transformation. » commented Jean-Luc Konan, Founder and CEO of the COFINA Group.

There is significant demand in the SME market for the products and services offered by the Cofina Group, which will help entrepreneurs grow their businesses, while promoting financial inclusion and creating a positive impact on African economies. We are delighted to join the Cofina Group as investors and look forward to working with Jean-Luc and his top management to continue to realize his vision.. “said Babacar KA, Partner at DPI.

As part of these transactions, DPI was advised by ASAFO & Co, a law firm co-founded by the Togolese Pascal Agboyibor, and KPMG. The Cofina Group was advised for its part by ADNA.

In Togo, Cofina, which has positioned itself particularly in the field of support for SMEs, offers intermediate solutions between microfinance and conventional banking. The rapidly growing company has, among other things, entered into agreements with public and private support companies to support financial inclusion and entrepreneurship projects, such as in agribusiness.

Ayi Renaud Dossavi

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