BACI is a traditional bank, subsidiary to Atlantic Business International, which is a member of the Banque Centrale Populaire Group of Morocco. It is affiliated with banks and insurance companies in Benin, Burkina Faso, Mali, Niger, Senegal and Togo.
BACI is proposing a mobile money solution that is based on a ‘talking’ app in local languages, which bypasses the need for its users to be literate. The solution will incorporate micro-savings, micro-insurance and micro-credit services.
This is innovative in that lack of literacy has been a major hurdle for mobile money in Côte d’Ivoire thus far. Having a ‘talking’ app in a range of local languages means the tool is much more widely accessible.
Souleymane Diarrassouba, General Manager
- Positive systemic changes to the financial market system in Côte d’Ivoire
- Efficiency and productivity gains for rural farmers through access to finance (including savings, insurance and credit)
- Approximately 80 new jobs