The leading player in mesofinance and the organization dedicated to female entrepreneurship have signed a two-year strategic partnership to facilitate access to credit for SMEs run by women.

DAKAR – On September 2, the COFINA Group, a pan-African leader in mesofinance, and the SEPHIS Foundation formalized a major alliance: a credit line of one billion CFA francs over two years, specifically dedicated to financing projects led by women in Senegal.

This signing at COFINA Senegal's headquarters materializes the convergence of two complementary visions. On the one hand, SEPHIS, chaired by Sefora Kodjo, brings its expertise in supporting and structuring SMEs through its programs, which focus on three main areas of intervention: technical assistance, market access, and access to financing. On the other hand, COFINA, headed in Senegal by Youssouf M. DIAGANA, has the financial clout to transform mature projects into commercial successes.

A major challenge to be met

This alliance addresses a major challenge: according to the African Development Bank, nearly 80% of women entrepreneurs in sub-Saharan Africa face difficulties accessing financing. In Senegal, the gap in access to financial services between men and women reaches 22.9 points, well above the regional average.

“One of the biggest challenges faced by women entrepreneurs remains access to financing,” Ms. Kodjo said at the ceremony. “ This partnership reflects our shared commitment to removing these barriers and empowering women to turn their ambitions into viable businesses .”

An innovative synergistic model

The mechanism is based on an integrated approach: SEPHIS identifies and prepares women entrepreneurs through its training programs, ensuring the soundness of their business plan and governance. Once this work is completed, COFINA intervenes with a tailored financing solution, reducing the perceived risk that often excludes women from the traditional banking system.

This collaboration originates from the WAWI (West African Women Initiative) program, a West African regional program implemented with the support of the Invest for Jobs initiative, where the two organizations noted the complementarity of their approaches. "This is not just another partnership, but rather the construction of a common vision," stressed Mr. Diagana.

A considerable economic impact

The challenge extends beyond Senegal. Nationally, women's entrepreneurship already contributes 22.1% of GDP, or 2,681 billion CFA francs. This initiative could not only accelerate the growth of women-led SMEs, but also inspire other financial players to adopt more inclusive approaches.

COFINA, present in eight French-speaking African countries with a 15% market share in Senegal, could quickly replicate this model in its other subsidiaries. SEPHIS, with its network of more than 1,700 women entrepreneurs, has the expertise to adapt its programs to different national contexts.

Promising prospects

The first disbursements are expected before the end of 2025. If the Senegalese experience proves conclusive, it could catalyze the emergence of a new, more inclusive and more efficient African financial ecosystem.

By joining forces, COFINA and the SEPHIS Foundation are laying the groundwork for a profound transformation of the African entrepreneurial ecosystem. Their goal: to prove that the financial inclusion of women is not only a moral imperative, but a winning economic strategy for the entire continent.

By Association Sephis Senegal

This article is based on data from the African Development Bank and information provided at the signing ceremony on September 2, 2025.