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BOAD (Banque ouest-africaine de développement)

Public data, unclaimed profile

Development bank of the WAEMU: loans and guarantees for private companies in West Africa, notably in energy, industry and agribusiness.

At a glance

Based on observed investment behaviour: 7 recorded deals

Investor type
Development finance institution (inferred, not verified)
Capital type
Development finance institution (inferred from profile)
Observed ticket
Data unavailable
Countries
Benin (3), Côte d'Ivoire (2), Burkina Faso (1)
Activities
Cement plants (2), Power generation (utility-scale) (2), Cocoa, coffee and export crops (1)
Instruments
Senior debt (4), Guarantee (1)
Stages
Growth (5)
Recent activity
5 deals in 12 months, latest Sept 2026

Stated thesis versus observed behaviour

  • Sectors: 86% of its deals within its stated thesis
  • Countries: 100% of its deals within its stated thesis

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Describe your need: the target list shows, for each source of capital, why it fits and which deals prove it.

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Investment thesis

Criteria published by the fund, recorded and checked by Invest Matching.

Investment ticket
17.5 M$ – 29 M$*
Instruments
Senior debt, Guarantee, Equity
Preferred sectors
Energy, Agribusiness, Transport & civil engineering, Manufacturing, Real estate, Financial services, Telecoms & digital infrastructure*
Target geographies
WAEMU

* added from its deals

Stages (stated by the fund and from its deals)
Growth

Deals in progress

AFRIC CEMENTS

September 2026 · Burkina Faso
Approved17.5 M$ManufacturingLead

Approved by the BOAD Board; signing and disbursement not published.

Activity : Cement plants

Instrument : XOF 10bn financing approved by the BOAD Board

New 285,000 t/year cement plant in the Kossodo industrial zone, Ouagadougou.

Source : afrikinfos-mali.com

Société des Ciments du Bénin (SCB)

June 2026 · Benin
Approved29 M$ManufacturingLead

Approved by the BOAD Board; signing and disbursement not published.

Activity : Cement plants

Instrument : XOF 16.6bn financing approved by the BOAD Board

Cement plant in the Sèmè-Podji industrial zone: production capacity expansion.

Source : lanouvelletribune.info

Reference deals

Recent public deals: they say better than a thesis what the fund actually signs.

AZITO Energie SA

December 2025 · Côte d'Ivoire
GrowthUndisclosed amountGuaranteeEnergyCo-Invest

Activity : Power generation (utility-scale)

Instrument : Renouvellement de la contre-garantie partielle, 10 Md FCFA

Independent power producer operating the Azito power plant in Côte d'Ivoire.

Why they invested

  • Support fulfilment of concession-related financial commitments
  • Support continued financing of Côte d'Ivoire's electricity sector

Co-investors Société Générale

Source : admin.boad.org

Syrrius Industries SA

December 2025 · Benin
GrowthUndisclosed amountSenior debtManufacturingLead

Activity : Electronics and appliances

Instrument : Financement de 5 Md FCFA

Industrial company located in the Glo-Djigbé industrial zone, specialising in local assembly of computers, tablets, phones, decoders and drones.

Why they invested

  • Support Benin's industrialisation
  • Develop local assembly of electronic products
  • Reduce import dependence
  • Strengthen skills and technology transfer

Source : admin.boad.org

Orange Mali SA

November 2025 · Mali
GrowthUndisclosed amountSenior debtTelecoms & digital infrastructureCo-Invest

Co-investor alongside IFC (International Finance Corporation)

Activity : Telecom operators and ISPs

Instrument : Prêt social de 80 M EUR, dont 50 M EUR équivalent en francs CFA

Orange Mali operates mobile and digital telecommunications services in Mali. The financing supports new 4G towers and expansion of the fiber network.

Why they invested

  • Expansion of broadband coverage
  • Deployment of 300 new 4G towers
  • Expansion of fiber networks to households and small businesses
  • Reducing digital exclusion in rural areas

Source : ifc.orgN1 · Primary source

SONGON ENERGIES

2025 · Côte d'Ivoire
GrowthUndisclosed amountSenior debtEnergyLead

Activity : Power generation (utility-scale)

Instrument : Prêt de 50 Md FCFA

Company developing and operating a 372 MW combined-cycle thermal power plant in Songon.

Why they invested

  • Strengthen Côte d'Ivoire's electricity supply
  • Generate 2,805 GWh annually
  • Create jobs and economic value
  • Support long-term electricity generation capacity

Source : admin.boad.org

Bénin Cashew SA

March 2024 · Benin
GrowthUndisclosed amountSenior debtAgribusinessLead

Activity : Cocoa, coffee and export crops

Instrument : Financement de 10 Md FCFA

Company developing an agro-industrial cashew processing complex in the Glo-Djigbé industrial zone.

Why they invested

  • Increase local cashew processing
  • Create value added in the cashew value chain
  • Develop Benin's industrial capacity

Source : lanouvelletribune.info

In short

BOAD (Banque ouest-africaine de développement) invests tickets ranging from 17.5 M$ to 29 M$, across the following sectors: Energy, Agribusiness, Transport & civil engineering, Manufacturing, Real estate, Financial services, and Telecoms & digital infrastructure, in the following areas: WAEMU. Check in 30 seconds whether your company fits these criteria.