Cote d'Ivoire
Côte d’Ivoire, located in West Africa, has a population of approximately 27 million and a GDP of around USD 27 billion. The country is one of the region’s largest economies, with major contributions from agriculture, trade, and services. Key exports include cocoa, coffee, cashew nuts, and petroleum products, while primary imports include machinery, vehicles, petroleum, and consumer goods, making the country a significant player in regional and international trade. Major trading partners include France, China, the United States, and neighboring West African countries.
The banking sector in Côte d’Ivoire comprises both local and regional banks, offering retail, corporate, and digital banking services. However, banking penetration remains low, with many citizens relying on informal savings systems due to high fees, limited credit access, and long distances to bank branches.
In terms of payment methods, cash dominates daily transactions, though mobile money services, such as Orange Money, MTN Mobile Money are rapidly growing, enabling bill payments, peer-to-peer transfers, and merchant purchases. Digital payment adoption is supporting financial inclusion, providing secure and convenient alternatives to cash.
Côte d’Ivoire’s combination of strong agricultural exports, growing digital payment adoption, and a developing banking sector positions it as a key economic hub in West Africa, with significant potential for trade, fintech, and financial services growth.
Top banks
Cote d'Ivoire has several banks operating in the country, including both domestic and international banks. Some of the most prominent banks in Cote d'Ivoire include:
Societe Generale de Banques en Cote d'Ivoire SGBCI
Societe Generale de Banques en Cote d'Ivoire (SGBCI): SGBCI is a subsidiary of the Societe Generale Group and is one of the largest banks in Cote d'Ivoire.
Ecobank Cote d'Ivoire
Ecobank Cote d'Ivoire: Ecobank is a pan-African banking group with a strong presence in Cote d'Ivoire. It offers a range of banking services, including personal and business banking, mobile banking, and e-commerce.
Banque Atlantique Cote d'Ivoire
Banque Atlantique Cote d'Ivoire: Banque Atlantique is a subsidiary of the Moroccan banking group Banque Centrale Populaire (BCP). It offers a range of banking services, including savings accounts, loans, and credit cards.
Standard Chartered Bank Cote d'Ivoire
Standard Chartered Bank Cote d'Ivoire: Standard Chartered Bank is a British multinational banking and financial services company that operates in Cote d'Ivoire. It offers a range of banking services, including personal and business banking, wealth management, and Islamic banking.
NSIA Bank Côte d'Ivoire
NSIA Bank Côte d'Ivoire: NSIA Bank is a West African banking group with a strong presence in Cote d'Ivoire. It offers a range of banking services, including personal and business banking, insurance, and asset management.
Top payment methods
Côte d’Ivoire’s payment landscape is predominantly cash-based, but digital and mobile payment solutions are growing rapidly. Popular methods include mobile money platforms like Orange Money, MTN Mobile Money, and Flooz, as well as bank cards, online banking, and electronic transfers. These solutions enable peer-to-peer transfers, bill payments, retail purchases, and e-commerce, supporting a cashless economy and promoting financial inclusion across both urban and rural areas.
Orange Money
Orange Money - Subscription is free, at any point of sale displaying the Orange Money signage. Customers complete a subscription form and present ID. To credit their account, users can deposit cash at an Orange Money point of sale, receive money transferred by another user or have their salary paid directly into their account (depending on the country).Customers access the service directly from their phone, using a USSD menu. Through this menu they can check their balance, change their password and carry out all the transactions offered by the operator. These transactions are all protected by a four digit password chosen by the user. The main services are cash deposits and withdrawals, domestic and international transfers, and bill payments (water, electricity, TV, telephone, school fees).[13] Professionals (companies and freelancers) can also receive payments via Orange Money, once they have opened a specific "commercial account".
Wave
Wave - no account fees, instantly available, and accepted everywhere. In places where electricity, water and roads don't always work, you can still send money with Wave. With Wave you can: deposit & withdraw money for FREE, send money for anyone for only 1%, pay your bills for free.
MTN Cote d'Ivoire
MTN Cote d'Ivoire is the second-biggest player in the country with 34.3% of the mobile market. MTN Mobile Money is a secure electronic service that enables MTN Mobile Money wallet holders to store funds, send and receive money, make payments and do a number of other transactions simply using their mobile phone. MTN Côte d'Ivoire's subscribers can use the APaym apps without internet data. The solution also has a USSD code that enables use on feature phones.
Flooz is a leading mobile money platform in Côte d’Ivoire, providing secure, fast, and convenient digital payment solutions for individuals and businesses. Users can perform peer-to-peer (P2P) transfers, bill payments, merchant purchases, airtime top-ups, and online payments directly from their smartphones. Flooz enhances financial inclusion by giving access to digital banking services for unbanked populations, especially in rural areas. Integrated with local banks, merchants, and mobile networks, Flooz supports the country’s transition toward a cashless economy, driving digital payment adoption and economic modernization in Côte d’Ivoire.
Concluding remarks
Côte d’Ivoire’s payment ecosystem combines cash, bank cards, mobile money platforms like Orange Money, MTN Mobile Money, Flooz, and Wave, as well as online banking and electronic transfers, supporting a cashless economy, enhancing financial inclusion, and modernizing the country’s financial landscape.
Cash
Cash is still the most widely used payment method in the country, particularly in rural areas.Mobile money: Mobile money is a popular payment method in Cote d'Ivoire, with several mobile network operators like Orange Money, MTN, Wave, APaym.
Mobile money
Mobile money allows users to send and receive money, pay bills, and make purchases using their mobile phones.
Prepaid payment method
Prepaid payment method NeoSurf. Buy with cash and make online payments without the need for a bank account.
Credit and debit cards
Credit and debit cards are not as widely used in Ivory Coast due to high fees associated with card transactions. Banks in the country prefer to engage with larger businesses, purchase government securities, or build liquidity reserves rather than focusing on individual consumer transactions. Card acceptance is limited, and many Ivorians opt for alternative payment methods. Despite this, there is growing interest in digital payment solutions as the economy modernizes.
Online payment platforms
Online payment platforms such as PayPal and Stripe are also available in Cote d'Ivoire, although their usage is limited compared to other payment methods.
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