COFIDE was founded on 14 May 2000, the first bank in Burundi to establish its head office in a rural area, as a financial institution for the poorest people.
He had headed the Burundi Financial Society (Société Burundaise de Financement, SBF) since August 1998, but had informed his superiors who had accepted his resignation.
[4] COFIDE complemented the action of commercial banks in Ngozi Province in the north of Burundi, without compromising the stability of the financial system.
Recipients of individual microcredit must have a bankable project, have real securities or a solid guarantee, and commit to repay through the signing of a credit agreement.
[3] The research center of the University of Ngozi (CERADER) provided technical support and analysis of credit application files, and support was also provided by the Union for Cooperation and Development (Union pour la Coopération et le Développement, UCODE), as well as [Coffee] Washing Station Management Companies (Sociétés de Gestion des Stations de Lavage, SOGESTAL).