Vista Bank Burkina has 15 branches, 54,000 clients, and employs 286 people. It aims to develop its offer to SMEs/SMIs, key players in the local economy.
In order to strengthen the availability of financing for the trade economy in Burkina Faso and to support imports of essential goods with a key player in the sector, Proparco has entered into a partnership with the Vista Group, which offers a wide range of financial services to its clients in West Africa.
This 2-year facility will enable Vista Bank Burkina to issue trade finance instruments for a total amount of EUR 10 million, with a guarantee from AFD Group of up to 100%. It aims to encourage foreign correspondent banks to develop their trade finance operations with Vista Bank Burkina and its local clients, thus enabling the import of essential goods, notably agricultural foodstuffs and medical and industrial equipment.
For Fatoumata SISSOKO-SY, Regional Director for West Africa of Proparco, "This operation of Proparco is made possible thanks to the Choose Africa initiative, and will support the growth of Burkina Faso via Vista Bank Burkina, one of the main banks in the country, very active in the corporate client segment, and the financing of imports, including foodstuffs, raw materials and agricultural equipment, in a context of security challenges".
"The granting of the envelope of guarantees Trade Finance is intended to cover transactions made in the form of letters of credit, standby letters of credit and drafts endorsed. This takes into account the need to meet the needs of our customers by supporting the import of consumer goods," said Mohamed BA, General Manager of Vista Bank Burkina