Patrick Navarro

With growing financial development opportunities in the emerging markets Europe based IT service provider for banks and Financial Institutions, Sopra Banking has announced its partnership with Burkina Faso-based bank BADF (Banque Agricole du Faso). Sopra will be developing core banking solutions for Banque Agricole du Faso (BADF) within a limited time scale.

Patrick Navarro, Senior Vice-President Middle East & Africa at Sopra Banking Software said, “We are proud to support the BADF with its business launch in Burkina Faso” With more than 250 clients in the banking sector of Africa Sopra Banking software has become the largest Fintech supplier in Africa.

Banque Agricole du Faso (BADF) has been founded with the purpose of enabling credit to MSMEs this includes the unbanked farmers. The banks’ primary objectives are to promote access with respect to savings schemes in rural areas and to fund agribusiness. Burkina Faso, being an agrarian country, has a rural sector covering 80% of the population and generating close to 30% of the country’s GDP.  However, only 15% of farmers currently have access to bank loans.

BADF (Banque Agricole du Faso) with its partnership with Sopra banking software will be developing core banking solutions to enable credit to the unbanked and the disadvantaged community in the African sub-continent.

by Megha Bhattacharya
Market Analyst at IBS Intelligence