Yeelen Financial Fund has invested €7.6 million in Fidelis Finance to support its transition to a universal bank, enhancing its capacity to finance SMEs in the WAEMU region.

Target Information

Fidelis Finance is a banking financial institution with a strong focus on providing financing solutions to small and medium-sized enterprises (SMEs) within the Union. Established in Burkina Faso in 1997 and licensed by the Central Bank of West African States (BCEAO), the institution operates through a branch in Côte d'Ivoire. Over 25 years, Fidelis Finance has gained a reputation for being a leading player in the financing of SMEs, offering services such as leasing and factoring. As of June 2024, the institution has provided cumulative loans exceeding €228.6 million to SMEs, showcasing its commitment to enhancing the financial landscape for businesses in the region.

The company is currently undertaking a significant transformation plan to evolve into a universal bank, pending regulatory approval. This initiative is encapsulated in its CAP25 development strategy, which aims to increase its share capital from €9.5 million to €32.8 million to bolster its financial strength and service offerings.

Industry Overview

The financial services industry in West Africa, particularly within the West African Economic and Monetary Union (WAEMU), is pivotal for the growth of SMEs, which are the backbone of the economy. The region has witnessed a noticeable increase in fina