NSIA Banque CI is carrying out a debt securitisation operation for a total amount of CFAF 40 billion from 7 February to 6 March 2020. It thus becomes the first banking institution in the region to refinance itself on the WAEMU market with this mechanism.

As of February 7, 2020, NSIA Bank CI launches the issuance of a Common Fund for The Securitization of Receivables called FCTC NSIA Bank 7% 2020-2025. The securities to be issued consist of 4,000,000 bonds, with a nominal value of 10,000 FCFA, with a maturity of 5 years (60 months) and an annual rate of return of 7%.

NSIA Banque CI: innovative and attractive banking player

The first regional banking player to use this type of operation authorized since the WAEMU regulation of 2010, NSIA Banque Côte d'Ivoire obtained the approval of the Regional Council for Public Savings and Financial Markets (CREPMF) on January 21, 2020. "We are proud to have been mandated hired by NSIA Banque CI to structure and arrange this debt securitisation operation. This is a first for the sector! It positions NSIA Ci Bank as a regional pioneer and highlights its ability to demonstrate creativity and ingenuity for the benefit of its clients. This issue will enable the bank, in particular, to optimise its capital consumption while consolidating its ability to intervene. " explains Serge Tidiane Diop, Chief Executive Officer of Africa Link Capital Structuration. A guarantee of credibility and attractiveness, this first operation counts as a reference investor the International Finance Corporation (IFC), a member of the World Bank Group, which has obtained the approval of its Board of Directors, to the effect of intervening to the tune of an amount of CFAF 17.5 billion.

NSIA Banque CI: partner in Ivorian economic growth

The securitization of NSIA Banque CI's receivables will enable it to increase its financing capacity in order to meet the strong demand for credit from small and medium-sized enterprises (SMEs) in Côte d'Ivoire. The latter represent, at the national level, 80% of companies, but only 12% of the financing granted by banks. In addition, the World Bank estimates that private sector financing in Côte d'Ivoire is still below the global average of 88%. Therefore, this operation will allow NSIA Banque CI to contribute to strengthening the level of financing of the economy through SMEs while participating in the creation of jobs in Côte d'Ivoire. A special focus will be on women-led SMEs to increase the impact of the bank's intervention in the area of financial inclusion and poverty alleviation.

"This operation marks the bank's willingness, and more broadly of the NSIA Group, to support African economies facing the challenge of financing their development," said Léonce Yacé, Chief Executive Officer of NSIA Banque CI.

The public offering is open from February 7 to March 6, 2020, to any investor, natural or legal person, residing in the WAEMU zone or abroad. The FCTC NSIA Bank 7% 2020-2025 will be managed by Africa Link Capital Securitisation, the WAEMU market leader in this area. The investment syndicate is made up of all the IGS in the area and is led by SGI NSIA Finance. Finally, the FCTC will be listed on the BRVM at the end of the subscription period.