FMO, the Dutch entrepreneurial development bank, announced its intention to establish a regional office in Abidjan, Côte d’Ivoire, as part of its strategy to further strengthen its presence and long-term commitment across West Africa. The formal announcement was made during a mission the entire Management Board and Supervisory Board took to the country, at a cocktail reception at the residence of Mr. Jeroen Kelderhuis, Ambassador of the Kingdom of the Netherlands to Côte d’Ivoire.
The planned office marks an important step in deepening FMO’s engagement in a region where it has seen sustained growth in both investment activity and development impact. A permanent local presence will enable FMO to work more closely with clients and partners, strengthen its understanding of local markets, and support the origination and execution of investments that contribute to sustainable economic development.
West Africa represents a key region for FMO, combining strong economic fundamentals with increasing demand for investment across its three core sectors: energy; financial institutions; and agribusiness, food, and forestry. At the same time, the region presents significant opportunities to support inclusive growth, strengthen local value chains, and expand access to finance.
FMO has built a substantial presence in West Africa over recent years, with a total committed portfolio of approximately EUR 1.3 billion. The portfolio reflects FMO’s role in supporting more than 50 clients across the region and mobilizing additional capital alongside its own investments.
Looking ahead, FMO sees significant potential to expand its activities further, with indicative ambitions to nearly double its total portfolio by 2030. The planned regional office will support this growth by strengthening local origination and partnerships with various stakeholders.
Côte d’Ivoire plays a central role in this regional strategy. As a leading economic hub in Francophone West Africa, the country offers strong opportunities across sectors and provides a strategic base for engaging with markets across the region. From its Abidjan office, FMO will continue to scale investments that support sustainable development and economic transformation.
In addition to financing individual transactions, FMO’s presence in West Africa will support broader market development. A local office will enable closer collaboration with businesses, financial institutions, and development partners to help strengthen investment ecosystems and unlock new opportunities.
Through this approach, FMO aims to:
Through this office, FMO will be able to support more effective portfolio management and to respond more efficiently to emerging investment opportunities. By strengthening local engagement, FMO will be better positioned to contribute to resilient, inclusive economic growth across West Africa.
Michael Jongeneel, CEO of FMO, said, “West Africa is an important region for FMO, with strong growth potential and increasing demand for investment across sectors that are critical for development. By establishing a presence in Abidjan, we are strengthening our ability to partner locally, originate new opportunities, and support businesses that contribute to sustainable and inclusive growth across the region.”
