Swedfund's investment fuels financial inclusion in West Africa

Swedfund invests USD 5 million in a loan to Teyliom Finance, a subsidiary of Teyliom Group, a leading pan-African group active in five industries, across twelve countries. The investment is directed towards Bridge Bank Microfinance to strengthen financing for micro, small and medium sized enterprises (MSMEs) and is expected to enhance financial empowerment of women in Côte D'Ivoire.

Bridge Bank Microfinance (BBM) advances financial inclusion in critically underserved sectors. The growth of MSMEs is expected to support direct and indirect employment as well as income generating activities. BBM also has the ambition to address a gap in the market by developing specific offerings to female entrepreneurs and women led MSME clients.

- This is the first investment in Côte D'Ivoire since Swedfund opened its regional office in Abidjan, our second in Africa. Through this investment we aim to further contribute to MSME financing, which in turn can spur job creation and female participation in the economy, says Kitanha Toure, Head of Swedfund’s Regional Office for West Africa, Abidjan.

Bridge Microfinance will maintain its focus on responsible lending and will certify its client protection practices via the Client Protection Pathway during the tenor of Swedfund’s loan. The certification covers factors such as pricing (interest rates), data protection, transparency of terms and conditions and to responsible debt collection.

Swedfund co-invests with BluePeak, a Private Credit fund which Swedfund is invested in since 2022, and the combined investment amounts to USD 25 million.