COTE D’IVOIRE – Swedfund, a development finance institution (DFI), and African-based credit fund BluePeak Private Capital Fund have invested in West Africa-based Teyliom Finance to enhance financial access for women and boost the growth of MSMEs.

Swedfund contributed US$5 million out of the combined investment of US$25 million, which aims to strengthen financial assistance for micro, small and medium-scale enterprises (MSMEs), particularly those owned by women in Côte D’Ivoire.

The funds will be managed by Teyliom Finance’s subsidiary, Bridge Bank Microfinance (BBM). Swedfund anticipates that the loan will enhance financial access for women, boost the growth of MSMEs, and subsequently generate income and employment opportunities in West Africa.

“We are delighted to support the growth ambition of such an established leading player with a strong track record and know-how of lending to SMEs in the West Africa region,” Walid Cherif, Managing Partner at BluePeak Private Capital, said.

“Through this partnership, we will support Teyliom Finance in further driving financial inclusion and bridging the financing gap across the region.”

Since its establishment in 2006, Teyliom Finance has demonstrated a strong track record in broadening access to financial services and contributing to closing the financial gap in both banking and non-banking sectors.  

Teyliom Finance controls several companies operating in the financial services industry. The company’s established presence represents a unique opportunity to advance financial inclusion thanks to its presence among the SME segment, retail clients, and micro-lending. 

Bridge Bank, Teyliom Finance’s main subsidiary through Bridge Group West Africa, is the 10th largest bank in Côte d’Ivoire, providing banking solutions to more than 13,000 corporate, SMEs, and retail clients through 14 branches in Côte d’Ivoire and started operations in Senegal with 1 branch. 

The company plans to grow its footprint across West Africa, specifically by opening new branches in Senegal and soon expanding to Burkina Faso, amongst additional countries whilst increasing lending to SMEs and micro-businesses. 

“We are very pleased to partner with BluePeak, one of the leading private capital investors in Africa. This investment will help Teyliom consolidate its position in the financial services industry in Cote d’Ivoire and other markets in Francophone West Africa,” Yerim Sow, Founder of Teyliom Group.

“Working with quality investors has been a successful recipe for our Group as we continue to grow and build scale in our markets.” 

This partnership with Teyliom Finance is fully aligned with BluePeak’s commitment to supporting scalable businesses, unlocking positive impact, and advancing economic growth across Africa. 

In addition to the Fund’s core impact themes around gender equality, job creation, and climate action, the investment in Teyliom Finance is focused on improving access to financing through the broadening of financial services to the underserved and bridging the financing gap in the region. 

According to the World Bank, Côte d’Ivoire has a large number of individuals and SMEs who remain financially excluded as access to financing remains a challenge despite the expansion of mobile phone financing with women, especially at a disadvantage. 

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