Benin’s digital startups step into Ivorian market

In September 2024, three startups working with the NTF V FastTrackTech project in Benin made a week-long business development mission to Abidjan. Assisted by a business development expert, they held high-level business meetings that brought in results.

FedaPay steps up development in Côte d’Ivoire

To maximize their chances of success in Côte d’Ivoire, a business development consultant carefully prepared the ground in advance: identifying opportunities, devising a tailor-made sales strategy, and planning well-chosen appointments.

Hermann Aguessy, co-founder of fintech company FedaPay, said this support enabled him to optimize his time.

‘In one week, I held nine meetings with companies and major players in the Ivorian market,’ he said. ‘Currently, seven discussions are underway, and I’m confident about the outcome. What’s more, the NTF V Project continues to help us in the follow-up of prospects. I would never have been able to do as much on my own.’

A fintech pioneer in Benin, FedaPay has exceled in merchant payment solutions, bulk payments and international transfers since 2019. It aims to build the largest electronic transaction system in sub-Saharan Africa and hopes to achieve sales of €3 million by 2027.

‘We are currently active in nine African countries and expect to double this figure soon. NTF V’s support has come at just the right time to help us develop in key markets, approach new prospects and convert them.  You can’t put a price on that.’

REMA signs four contracts in just a few days

Like many entrepreneurs, Sédric Degbo is well aware of the challenges of international growth.

‘Recruiting a development manager is very expensive,’ he said. ‘In most cases, the manager handles prospecting, sacrificing their time to the detriment of everything else. Being able to integrate NTF V’s prospecting mission means benefiting from tailor-made support and privileged access to a qualified network.’

In 2019, this young doctor created REMA, the largest medical community in French-speaking Africa. Designed to support healthcare professionals in the performance of their duties and their skills development, the platform currently boasts 36,000 users.

‘We are operational in Benin, Togo, Senegal and Côte d’Ivoire. Our priority is to strengthen our presence in these countries, to reach 50,000 members by 2025.’

In Côte d’Ivoire alone, the start-up plans to triple the size of its teams. The prospecting mission to Abidjan has accelerated his entry into the market penetration.

‘I took part in 10 meetings. Two partnerships were immediately signed on the spot, and two new contracts followed immediately afterwards. Discussions are still ongoing with other prospects.’

In just a few days, the start-up will have achieved a business volume of tens of thousands of euros. For Sédric, there’s no secret: ‘All the work done upstream of the mission by the NTF V Project made all the difference. The prospects were perfectly targeted and the logistical organization was totally fluid. For me as a business owner, this is a remarkable asset and a considerable time-saver.’

The Netherlands Trust Fund V (NTF) program (July 2021 – June 2025) is based on a partnership between the Netherlands Ministry of Foreign Affairs and the International Trade Centre. NTF V supports SMEs in the digital technology and agribusiness sectors in Benin, Ivory Coast, Ethiopia, Ghana, Mali, Senegal and Uganda. Its ambition is to contribute to an inclusive and sustainable transformation of agri-food systems partly through digital solutions, to improve the international competitiveness of local tech start-ups and to support the implementation of the export strategy of IT&BPO companies.