[Digital Business Africa] – New Burkina Faso-based bank BADF has chosen Sopra Banking Software to support its launch. The announcement was mad this 3rd July 2019 in Paris, by Sopra Banking. In order to meet its ambitious development plans, Banque Agricole du Faso decided to implement the Sopra Banking Amplitude solution. The Bank opted for this publisher with 40 years of experience, which is an international leader in the sector, to support its strategic development.
Its choice of a robust digital core banking solution should address any issues arising from creating the new institution within a limited timescale. BADF’s choice to launch in partnership with Sopra Banking Software is driven by the publisher’s experience with this type of project in the region, as well as its credentials in digital banking project support.
Banque Agricole du Faso (BADF) has been founded with the purpose of helping farmers to access funding. Its primary missions are to promote access to savings schemes in rural areas, and to fund agribusiness. It should be noted that the rural sector covers 80% of the population, and generates close to 30% of Burkina Faso’s GDP. Only 15% of farming producers currently have access to bank loans. This figure could increase rapidly with the launch of the new Bank.
Patrick Navarro, Senior Vice-President Middle East & Africa at Sopra Banking Software said “We are proud to support the BADF with its business launch in Burkina Faso”. Sopra Banking Software is now a leading player in the banking sector as a whole and in Africa, where it has over 250 clients. Over 800 financial institutions worldwide have put their trust in its services.
Banque Agricole Du Faso, abbreviated to BADF, was incorporated on 30 August 2017 as a société anonyme (public limited company) with a Board of Directors. It has a share capital of 14,277,570 CFA Francs. It obtained its certification on 16 April 2018 (number C 00207 J), and opened its counters to customers on 25 February 2019. Its Board of Directors comprises ten (10) members, including three (3) farming representatives.
BADF operates as a universal bank, and therefore employs experienced staff, including experts in farming, banking, finance and management. It offers a wide range of products and services to all “promoters of the economy”. The bank’s ambition is to boost the economy of its core profession, the farming sector, by providing a loan system which is suited to the realities and requirements of this business sector.
The BADF’s head office is located at 1035, Avenue de la Grande Mosquée, Secteur n°4, Arrondissement 01, commune of Ouagadougou 01 BP 4050 Ouagadougou 01 BURKINA FASO – Tel +(+226) 25 32 99 00. It plans to open branches in Bobo-Dioulasso and Dédougou, gradually expanding to cover all of Burkina Faso’s provinces.
About Sopra Banking Software
With 4 300 experts, a pro forma turnover 2018 of € 373,7 million and one of the deepest, broadest portfolios of software and services, Sopra Banking Software is a trusted, long-term partner of over 800 banks in more than 70 countries. Sopra Banking Software has an unequalled ability to address the requirements for banks and financial institutions of any size and scope, allowing them to innovate and expand their services. Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in digital transformation, with more than 44 000 employees. In 2018, Sopra Steria achieved generated a revenue of € 4,1 billion.