Increased activity in Sub-Saharan Africa

 

In the first half of 2023, the Foundation strengthened its position in sub-Saharan Africa with the granting of two new loans to two partners in Mali and Uganda.

In Mali, the Foundation grants a new loan to Baobab Mali amounting to 2,000,000 Euros. This microfinance institution's mission is to "unlock the potential of its clients by offering them simple and easy-to-use financial services." It operates primarily in urban areas and has 41% women among its 18,643 clients.

In Uganda, the Foundation has granted a new loan to Vision Fund Uganda in local currency equivalent to 500,000 euros. A partner since 2017, this microfinance institution belongs to the Vision Fund group, the first partner to launch a specific program on the financial inclusion of refugees within the framework of financing from Swedish international cooperation (SIDA) and the UNHCR. To date, the institution serves 50,593 active borrowers (60 % women and 95 % in rural areas) and manages a portfolio of 7.5 million euros. This is the 4th loan granted by the Foundation.

With these two new loans, the Foundation is strengthening its presence in Sub-Saharan Africa, which represents 56,% of the total outstanding amount monitored by the Foundation at the end of July 2023.

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