The ECOWAS Bank for Investment and Development (EBID) and AFG Holding SA have formalised a strategic partnership aimed at significantly accelerating private sector growth across the ECOWAS region.
The agreement, signed on Tuesday, November 18, 2025, in Abidjan, Côte d’Ivoire, establishes a dedicated facility in the amount of EUR 50 million to support private enterprises through AFG Holding SA’s subsidiaries operating in the ECOWAS zone, namely AFG Bank CI SA and AFG Bank Guinea.
During the signing ceremony, Dr George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, reaffirmed the Bank’s commitment to inclusive and sustainable development as a catalyst for wealth creation, job promotion and poverty reduction in the ECOWAS region.
“Empowering the private sector is a crucial pillar in our efforts to address the persistent challenge of youth unemployment and foster economic resilience in our sub-region,” Dr Donkor stated. “This partnership with AFG Holding SA will expand access to vital financing for businesses that are the engines of our economies and contribute significantly to the regional value chain.”
The partnership places particular emphasis on strengthening small and medium-sized enterprises (SMEs), which form the backbone of West Africa’s economy.
By expanding access to long-term, affordable capital, the facility is expected to help SMEs scale up operations, adopt new technologies, and integrate more deeply into the regional and global value chains, thereby boosting productivity and employment.
AFG Holding SA welcomed the partnership as a catalyst for institutional growth and deeper engagement with the real economy.
Speaking on behalf of the company, Mr. Kouakou Anzoua Abissa, Administrator of AFG Holding SA, expressed profound gratitude to EBID for its trust and support, reiterating AFG’s dedication to deploying the funds efficiently and transparently to deliver tangible and measurable outcomes in terms of private sector expansion and economic diversification.
With this new financing agreement, EBID further consolidates its role as a trusted development partner to West Africa’s financial sector. By broadening access to finance for SMEs, which are key drivers of innovation and industrialisation, the Bank is helping lay the foundation for lasting prosperity and a more self-reliant economic future for the sub-region.
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