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Created as a bank for SMEs and local micro-finance institutions, the Banque Malienne de Solidarité, in which SIDI became a shareholder shortly after its creation, is now Mali’s leading bank, following a series of mergers decided by the Malian government with the aim of creating a “public” retail banking champion.
Kafo’s mission is to offer local financial services (savings, credit, fund transfers and other services) to as many people as possible in Mali in order to improve their living conditions. Through its coverage (158 outlets, 80% of which are in rural areas), Kafo offers local financial services where other institutions are not present, in particular to finance the modernisation of agriculture.
BMS has grown so much that it now devotes only a tiny part of its portfolio to micro-finance institutions. SIDI devoted a great deal of energy to structuring its banking activity until around 2010, when it was diluted by the strong growth of the institution, which is now considered to be systemic by the monetary authorities in West Africa.
