In addition to an international environment unfavourable to economic activity, 2022 was marked in Mali by the economic and financial sanctions imposed by regional institutions against it. After six months of embargo, the lifting of sanctions in early July enabled the country to honour its commitments and raise funds on the regional market to finance its projects.

According to the IMF, Mali’s growth rate increased from 3.1% to 3.8% in 2022.

In addition to the global impact of the pandemic and the socio-political upheavals (the coup d’état, the embargo of neighbouring countries on trade and financial flows), the Russia/Ukraine crisis further impacted the already gloomy economic environment.

In spite of this particularly difficult situation, BANK OF AFRICA – MALI (BOA-MALI) showed resilience, closing the 2022 financial year on a good note thanks to its sound fundamentals.

Total assets stood at CFAF 576,751 million against CFAF 581,464 million a year earlier, a slight decrease of 0.8%.

Customer deposits decreased by 7.9% to reach CFAF 425,026 million at the end of 2022 while net customer loans increased by 2.5% in spite of the deterioration of the business climate since March 2020 caused by the pandemic.

Net banking income, which remained stable compared to the previous year at CFAF 35,307 million, did not reach the budget forecasts.