1. Djamo has obtained the first microfinance license issued by the BCEAO to a fintech.

2. The license allows Djamo to offer regulated products including remunerated savings accounts up to 6% annual interest and loans up to CFA1 million.

3. Djamo has processed over $4.5 billion in transactions and raised $17 million in venture capital in April 2025.

Djamo, an Ivorian fintech, secured a microfinance license from the Central Bank of West African States (BCEAO). Hassan Bourgi, Djamo’s co-founder and CEO, announced the approval on September 11, 2025.

???? DJAMO devient la toute première Fintech en Côte d'Ivoire à obtenir un agrément MICRO-FINANCE de la BCEAO !
Ce que ça vous apporte :
? Un compte courant déplafonné
?Un compte d'épargne rémunéré jusqu'à 6% de taux d'intérêts
? Vous pouvez maintenant obtenir un crédit chez… pic.twitter.com/te60SJWrhE

— Edith Brou Bleu (@edithbrou) September 11, 2025

The license allows Djamo to offer new regulated financial products. Djamo will issue unrestricted current accounts accessible and manageable online; provide savings accounts yielding up to 6% annually; and extend cash credit up to CFA1 million. Before this license, Djamo offered digital payments, fund transfers, and investment access on the regional securities exchange (BRVM).

Founded in 2020 by Hassan Bourgi and Régis Bamba, Djamo operates in Côte d’Ivoire and Senegal. In April 2025, the company raised $17 million in a funding round led by Janngo.africa with participation from Partech, Oikocredit, Enza Capital, Y Combinator, and others. That round marks the largest venture capital raise ever for an Ivorian startup. Earlier in February 2025, Côte d’Ivoire’s Caisse des dépôts et consignations (CDC-CI) invested CFA800 million (about $1.2 million) into Djamo’s e-money operations.

Djamo reports that it processed more than $4.5 billion in transactions since it launched. It also states that its revenue has multiplied by five since 2022, and that it has served over 10,000 SMEs in West Africa. The group recently appointed Elfried Didehia, formerly of Ecobank, BGFI Bank Europe, and the Cofina Group, as CEO of its finance division. Didehia managed Djamo’s financial solutions unit for the past three years.

The license arrives as BCEAO prepares to launch, by September 30, 2025, an interoperable instant payments platform linking banks, licensed microfinance institutions, and fintechs across the UEMOA region. The platform will allow real-time money transfers regardless of the customer’s financial institution.

Microfinance Sector Shifts in Côte d’Ivoire

At the end of Q1 2025, Côte d’Ivoire hosts 45 active microfinance institutions excluding affiliated savings-councils, according to a report by the country’s Ministry of Economy and Finance. The number of beneficiaries rose 2.2%, from 2,472 million in Q4 2024 to 2,526 million in Q1 2025.

Deposits held by microfinance institutions grew 4.4%, from CFA619.8 billion in Q4 2024 to CFA647.3 billion in Q1 2025. Loans disbursed reached FCFA 629.4 billion by end-March 2025, reflecting a 3% increase over the previous quarter.

Eighteen institutions held over 90% of sector assets as of March 2025. Unacoopec-CI led the sector with 38.9% of customers. Baobab CI SA and Advans-CI SA followed with shares of 11.2% and 10%, respectively.

In this context, Djamo’s entry into regulated microfinance signals its intention to offer diversified services and boost financial inclusion. The company aims to exploit digital innovation to compete with established players and capture a growing market share.

This article was adapted in French by Chamberline Moko
Adapted in English by Ange Jason Quenum