Ivorian fintech Djamo secures first microfinance licence with no objection from the BCEAO
- Djamo secured a microfinance license from BCEAO after a 3-year process.
- It is the first fintech in West Africa to obtain such a license.
- Djamo will offer current accounts with no fees or limits and savings accounts with up to 6% interest.
Djamo's innovative approach to banking in Francophone Africa addresses the significant gap left by traditional banks, which often overlook the needs of younger, less affluent customers. Their focus on financial inclusion and customer-centric services positions them well for growth in a competitive market. However, they must continuously adapt to the evolving needs of their user base to maintain their competitive edge.
