Ouagadougou: The money transfer company Sank Money and ETNA Microfinance signed a collaboration agreement on Monday aimed at facilitating access to financial services for households and small businesses in Burkina Faso. The partnership seeks to enhance financial inclusion by offering digital solutions that are more accessible and tailored to user needs.

According to Burkina Information Agency, Sada Zougmor, Managing Director of Sank Finance, expressed that the agreement with ETNA Microfinance is designed to support women, farmers, young people, and market actors in their economic activities. He emphasized the partnership's vision of leveraging technology to advance development and financial inclusion, stating that limiting services to deposits, withdrawals, and bill payments is insufficient for contributing to Burkina Faso's development.

Zougmor highlighted the complementary strengths of the two organizations, noting the speed, simplicity, and security offered by Sank Money, alongside the expertise and solid foundation of ETNA Microfinance. He explained that the collaboration would make financial inclusion a reality, allowing people to have multiple Sank Money accounts, access instant credits, and utilize digital savings services from any location using a simple phone.

The Managing Director of ETNA Microfinance, Lna Edwige Kargougou/Dabir, expressed satisfaction with the partnership, noting that working with a digital player was a longstanding goal of her company. She emphasized that the collaboration would enable ETNA Microfinance to achieve its objectives, especially in banking its target audience, by significantly expanding its reach through digitalization.

Kargougou/Dabir explained that banking involves guiding customers into the financial sector and facilitating their access to financial services. She highlighted Sank Money's Safe Service as a means of bolstering their activities, particularly in developing their savings component securely while ensuring customer protection.

Sank Money provides three types of savings accounts: the Nafa Chest for individual savings, the Basket Chest for group collections, and the Song Taaba Chest, also known as a tontine. Since September 2023, Sank Money has been pursuing a growth strategy with the goal of covering the entire national territory.