The International Bank for Industry and Commerce (BIIC) and the Agency for the Development of Small and Medium-Sized Enterprises (ADPME) today launched the FAEN (Digital Entrepreneurship Support Fund) program, which aims to promote financing for startups.

The ceremony took place at 9:00 a.m. at the ADPME offices in Cotonou, attended by officials from both institutions and several key players in the entrepreneurial and financial ecosystem. The partnership between the two institutions aims to strengthen access to financing for startup-certified companies in the seed phase (less than 3 years old) as well as SMEs in the growth phase. It marks an important milestone in the joint commitment of BIIC and ADPME to innovation, digital transformation, and the development of the digital economy in Benin.

Through this partnership, the two institutions intend to combine their efforts to offer tailored financing solutions that are both accessible and structured, to support entrepreneurial momentum in Benin and accelerate the growth of high-potential start-ups. The FAEN will assist in the research and development of solutions by certified start-ups; investments; working capital needs, etc.

"This award is a special recognition, as it demonstrates the passion and dedication of our teams, as well as the relevance of our strategy in Benin. I thank all our clients for their invaluable trust, as well as all our stakeholders for their support." Arsène M. DANSOU, Managing Director of BIIC

About BIIC

Resulting from the merger between BAIC and BIBE in 2020, Banque Internationale pour l'Industrie et le Commerce (BIIC) is today a key player in the regional banking sector, with a share capital of 82.514 billion FCFA (i.e., €125.79 million as of December 31, 2024).

BIIC is a universal bank, open to all customer categories. Driven by an ambitious mission to provide innovative and accessible financial services to all, it places customer satisfaction at the heart of its priorities and actively supports entrepreneurs and the country's economic players. A leader in the Beninese banking market since 2022, the bank's strategy is structured around four core businesses: large corporations and institutions, elite clients, individuals, and SMEs/SMIs, supported by a booming digital offering. Since April 2025, it has also been listed on the BRVM (Regional Stock Exchange).