Present in some twenty African countries, the “Colow-So” prepaid card is now available in Ivory Coast thanks to a partnership between the Canadian company “Colow-So” and the Guaranty Trust Bank (GTBank CI).
In Ivory Coast, according to 2020 figures from the Financial Inclusion Promotion Agency (APIF CI), 87% of the population is not yet banked. Banks and other financial structures are therefore multiplying initiatives to nibble market shares within this segment of the population which is largely made up of the informal sector. A sector which contributes 40% to the GDP.
The partnership which now links the Garanty Trust Bank (GTBank CI) and the Canadian company Colow-So therefore falls within this framework. It was materialized by a new digital payment and transfer offer “simple, secure and adapted to the needs of the populations”. The objective of this agreement between GTBank CI and Colow-So being to democratize access to financial products and promote financial inclusion, the prepaid card and the free electronic wallet, the two partners automatically give access to a bank account free of charge.
Another specificity of this new digital offer is that businesses and particularly those in the informal sector will benefit from support from Colow-so and GTBank CI in their development.