Symbiotics Drives Financial Inclusion in Côte d’Ivoire With $3.5 M investment in Djamo’s Digital Solutions

Symbiotics, the leading market access platform for impact investing, has facilitated a $3.5 million debt investment in Djamo, a fintech providing financial solutions to underserved populations in Côte d’Ivoire and Senegal. This financing will support Djamo’s expansion and enhance its service offerings in the fintech’s main market – Côte d’Ivoire.

In the region, the average cost of maintaining a bank account is approximately USD 120 annually, even when accounts are inactive or have insufficient balances. This burden disproportionately affects vulnerable populations, exacerbating financial exclusion. Djamo is dismantling traditional banking barriers such as high fees, minimum deposits, cumbersome processes, and limited access through bank branches, setting new standards for inclusive banking. About 50% of Djamo users were previously unbanked, and 60% are accessing their first-ever bank card. The fintech allows users to easily open a virtual account and receive a card, and make local and international payments. Additionally, it offers savings solutions, empowering individuals and businesses with greater financial autonomy.