BANK OF AFRICA MALI
- SBI provided Technical Assistance to Bank of Africa in Mali to “downscale” Bank of Africa into the SME sector in Mali.
- SBI’s Technical Assistance efforts were primarily devoted to establishing the SME department and providing training on risk management, marketing plans, and improvement of internal procedures for existing and new lending staff.
- Key activities included: establishment of a Department of SME within the Bank of Africa in Mali; revision of BOA’s policies and procedures regarding credit; a review of current marketing strategies and the creation of a new marketing campaign; training and sharing of best practices; development of Medium and Long Term Credits (rare in Mali); settlement of a commercial organization and sales force ready to deal with a high number of clients; and the implementation of more rapid and still equally secure risk procedures.
- As a result of the success of the operation, BOA Mali has experienced a growth in loans outstanding from 5.2 billion FCFA in March 2008 to 11.6 billion FCFA in December 2010, with only two loans defaulting for a total of 6 million FCFA.
- Specific methodology based on the cash flow analysis, BOA-Mali could also develop the credit production towards the informal sector of SMEs, which was innovative.