According to a study conducted by Entrepreneurial Solutions Partners (ESPartners) which is led by Eric Kacou, financing needs of SMEs in Cote d’Ivoire are estimated at 3,574 billion CFA francs ($5.7 billion). However, banks and finance institutions provide those structures only 40% of these needs, thus 1,464 billion CFA francs.

The results of the study, for which 4,212 firms in Cote d’Ivoire were surveyed, were released at the “Finance s’engage” forum held in Abidjan on November 24. The forum was organized by ESP partners, in partnership with the African Development Bank (AfDB) and the Confederation Generale des Entreprises de Cote d’Ivoire (CGECI).

Also, regarding financing needs, the study revealed that needs in capital (Capex) are greater. Standing at 1,850 billion CFA francs ($2.9 billion), they represent 52% of financing needs of Ivorian SMEs. Next are treasury needs and operating funds which amount to FCFA1,338 billion ($2.1 billion) or 37% of global financing needs. As for needs for amortization funds, they are estimated at FCFA209 billion ($337 million), thus 6% of financing needs. Finally, financial guarantee needs stand at 177 billion CFA ($286 million), knowingly 5% of total financing needs.

In regards to access to financing, the study states that a great number of Ivorian companies struggle to submit request for financing. 91% of the firms surveyed said they needed financing, but only 29% of these submitted a request to financial institutions. Only 14% of those that submitted the requests got the financing they sought after.

B.K