Ivory Coast: ADEC, Neofinance displays its ambitions

Since its acquisition in 2020 by new shareholders, the microfinance Alliance for the Development of Savings and Credit SA (ADEC) has completely changed its status. Repositioned in neo-finance, the institution is the only one in the WAEMU zone (along with Standard Chartered and, to a lesser extent, Orange Bank) to offer customers the possibility of opening their account online.

 “We are a new generation financial institution”, explains Jacques-Gaëtan TOBO, Co-founder of the new ADEC. All services are digitized, from account opening to Wallet to Bank and Bank to Wallet transactions. But also transfer operations, credit application, deposit.


“The customer just has to send us the physical documents in digital format from his phone,” explains Jacques-Gaëtan Tobo. Who specifies: “We have the same requirements as traditional banks in terms of KYC. What makes the difference is the mindset”.

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It must be said that 100% digital microfinance is emulated. Acquired below the waterline, with significant liabilities, neofinance produced credit production of 2.5 billion FCFA on a portfolio of 4,000 customers in 2021, the first full year since the takeover. 

“Our flagship product targets mobile money resellers and retailers who are often faced with the problem of financing their working capital. We offer them tailor-made”.


Faced with the magnitude of the demand, particularly from craftsmen, traders and operators in the agri-food industry, the leaders of ADEC are considering fundraising.

Source: Financial Afrike