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Djamo Finances, a leading digital financial services platform, has officially been granted a microfinance institution license by Côte d’Ivoire’s Ministry of Finance and Budget.
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This landmark regulatory milestone empowers the fintech company to expand its service offerings and solidify its role as a primary financial partner for its users across Francophone Africa.
Strengthened Governance and Customer Trust
The license provides Djamo’s growing customer base with an additional layer of security and guarantee. The company’s governance framework has been strengthened to align with regulatory standards, ensuring robust support for its clients’ financial needs.
Elfried Didehia, CEO of Djamo Finances, stated, “This license is a key milestone in our mission. It gives us the tools to reinforce customer trust and to become their primary financial partner for managing daily finances with regulated, guaranteed services designed for local economic realities. Thanks to our digital model, these microfinance services are now within reach, anywhere, anytime, directly from a smartphone.”
New Services: Credit, Savings, and Unlimited Accounts
With this new authorization, Djamo will introduce a suite of advanced financial products previously unavailable to many of its users. The new offerings include:
- Access to credit products
- Interest-bearing savings accounts
- Current accounts without transaction limits
These services build upon Djamo’s existing suite of tools, which includes salary reception, payments and transfers, budget management, secure savings vaults, and investment options.
Driving Financial Inclusion in Francophone Africa
This development comes at a pivotal time for financial inclusion in the region. According to World Bank data, financial inclusion in Côte d’Ivoire has risen significantly from 41% in 2017 to 58% in 2024. However, access to critical services like credit and savings remains limited for a large portion of the population.
Djamo’s license directly addresses this gap, aiming to provide millions with the tools for comprehensive and sustainable financial health.
A Pan-African Vision for Digital Finance
Beyond Côte d’Ivoire, this achievement is a cornerstone of Djamo’s pan-African strategy to build a solid digital financial institution. Already serving over one million users across Côte d’Ivoire and Senegal with its seamless, 100% digital experience, Djamo reaffirms its vision of creating an accessible, user-centered financial ecosystem for all of Africa.
