SAMA Money Group, a fintech company specializing in digital financial services and owned by Malian entrepreneur Daouda Coulibaly, has revealed the acquisition of the First Microfinance Agency (PAMF) Mali, a microfinance institution previously under the control of AKAM. Following this acquisition, PAMF now operates within the SAMA Money Group under the name “SAMA Finance,” with a clear mission to enhance the group’s contribution to financial inclusion for the unbanked population by offering accessible digital microfinance services to all.
It’s worth noting that this transaction, for which financial details have not yet been disclosed, occurred just two weeks after SAMA Money received approval as an Electronic Money Establishment (EME) from the Central Bank of West African States (BCEAO). This achievement solidified the unique status of SAMA Money as a fintech founded by a West African entrepreneur to hold such a designation.
Daouda Coulibaly, CEO of SAMA Money, expressed his enthusiasm for this acquisition, stating, “This acquisition will allow us to combine PAMF’s expertise in credit provision with SAMA Money’s mastery of mobile payments to offer our customers a 100% digital solution for savings and credit, thereby optimizing the customer journey and experience.”
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This strategic move opens up new opportunities for the SAMA Money Group, which already has a presence in Côte d’Ivoire and Burundi. It extends the company’s reach within the microfinance sector, a field that accumulated nearly 2,077 billion CFA francs in deposits in the UMOA region in 2022.
Furthermore, this operation highlights Daouda Coulibaly as a visionary and accomplished entrepreneur. His consistent presence on the Choiseul 100 Africa list for five consecutive years (from 2015 to 2020) demonstrates his status as one of the 100 inspirational young leaders on the African continent. Daouda Coulibaly is also the founder of TRAINIS, a computer training company. He holds a Master’s degree from the University Paris 1 Panthéon-Sorbonne, earned in 2005, followed by an MBA in Management from IAE France in 2009.
SAMA Money Bank SAMA Money Bank
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
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