BACI is an established bank operating in 7 countries in West Africa. The parent company is the Banque Populaire of Morocco.
BACI is extending mobile finance to the unbanked rural population in Côte D’Ivoire, 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 ensure reach, BACI intends to localise content, and use a pre-existing network of bank agencies with local service agents.
BACI has acquired Wizall Money, a mobile money platform and is implementing payment services with cocoa farmers.
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.
However, to ensure product relevance and sustainability, a fuller understanding of the entire cocoa production value chain is necessary.