Baobab Group posts a 13.8 billion FCFA result for the year 2021, with a clear refocus of its activities on Sub-Saharan Africa.
Dakar, June, 8th 2022 – Baobab Group, a key player for financial inclusion operating in eight African countries and in China (Sichuan), confirms its resilience with a return to pre-Covid performance levels.
Despite a year 2021 still marked by the global pandemic, Baobab Group reported solid financial and operational results. The credit portfolio is up 10% vs. 2020 and deposits increased significantly (+17% vs 2020), reflecting the stability and trust of the Group’s customer base.
Baobab Group’s performance is also driven by the strong results of its subsidiaries in the WAEMU region, where Baobab remains the leading microfinance institution. Over the last 5 years, for instance, Baobab Senegal has injected more than CFAF 670 billion, financing nearly 150,000 SMEs and micro-entrepreneurs. Also during the year 2021, Baobab Holding increased its stake in its subsidiaries in Senegal, Côte d’Ivoire and Mali, thus confirming its desire to refocus its strategy on Sub-Saharan Africa, where its presence is well established and sustainable.