The general managers of the Maison de l’entreprise du Burkina Faso, Karim Ouattara, and of the COFINA company, Dramane Bazié, signed a partnership agreement on Thursday, June 16, 2022 in Ouagadougou. By this act, the Maison de l’entreprise makes available to COFINA the directory of companies for the promotion of its products. The two structures will work together alongside companies that wish to help them succeed in their activities.
A marriage of convenience for the benefit of small and medium-sized businesses in Burkina Faso. This is what the first managers of the Maison de l’entreprise and the financial company COFINA realized on Thursday June 16, 2022. Indeed, Karim Ouattara and Dramane Bazié signed a partnership agreement to facilitate access to financing for SMEs supported by the Maison de l’entreprise du Burkina Faso. “The partnership with the Maison de l’entreprise du Burkina Faso is justified by the fact that COFINA wants to be much more present alongside SMEs and the Maison de l’entreprise has always positioned itself as a melting pot where one can meet the essential for SMEs in Burkina”, explained Dramane Bazié, Managing Director of COFINA.
- Members of the Cofina delegation
Present in Burkina Faso for three years, the financial company intends to fill a void left by traditional microfinance houses and banks. “We have classic microfinance which supports very small companies with small loans and banks which give large amounts to large companies. But in the middle, we have a target of SMEs that remains unsatisfied. COFINA comes to provide a solution to these businesses in the area through adapted, very flexible products, under conditions that allow them, in the context of Burkina, to remain resilient and to continue to participate in keeping the economy of Burkina always active ” , added the boss of COFINA Burkina.
A boon for SMEs in Burkina Faso
Through the agreement, the Maison de l’entreprise provides its partner with the directory of member companies so that it can offer them its products. “The CEO was saying earlier that nearly 16,000 businesses are created each year. Through this, COFINA has access to all these companies to offer them its products. The Maison de l’entreprise is a focal point which, beyond the credits we make, directs us to specific targets and helps in the coaching of these companies”, added the CEO of COFINA.
- Members of the Cofina delegation
The two structures can also share non-financial services for the benefit of these companies. This will enable them to define and resolve the inherent risks in the various sectors financed by COFINA. According to Karim Ouattara, CEO of the Maison de l’entreprise, this agreement has enormous advantages for SMEs. “This partnership is very beneficial for companies because it will allow them to mobilize funds to finance their activities. It is a framework agreement which also allows us to guide all those who are in need and who can really obtain funding from COFINA. We will also help these companies so that their management is improved and that the funds are well managed,” he argued.
- Family photo of the members of the two delegations
What is COFINA?
COFINA Burkina Faso is a subsidiary of the COFINA Group created in 2014 by Jean-Luc Konan. This pan-African group is committed to inclusive finance through its core business: mesofinance (the missing link between microfinance and traditional bank financing). From its creation to now, the group has injected nearly 927 billion FCFA of loans into the African economy, in particular for the benefit of SMEs which represent 90% of private companies and 33% of GDP. The agreement with the Maison de l’entreprise is therefore a godsend for SMEs that want to develop and increase their activities.
Jacques Theodore Balima