Developing innovative access to finance and micro-insurance for the unbanked rural population.
BACI is an established bank operating in 7 countries in West Africa. The parent company is the Banque Populaire of Morocco.
BACI aims to extend mobile finance to Côte D’Ivoire’s unbanked rural population through a project called Atlantic Sika. The mobile finance package will be able to transact payments, offer micro-savings, micro-insurance, and micro-credit products. To combat the estimated 70% illiteracy rates in rural populations in the target market, BACI aims to develop a talking app in local languages. They will also broadcast educational problems on local radio programs. To reach the rural population, Atlantic Sika will rely on BACI’s pre-existing network of bank agencies with local service agents.
As a large and established bank, BACI has the scale and outreach to develop innovative access to finance and micro-insurance products for the rural unbanked.