The Foundation grants 4 new loans in sub-Saharan Africa
During the first half of 2022, the Grameen Crédit Agricole Foundation continued its financing by granting four new loans in sub-Saharan Africa, a region in which it has 40 partners, representing 53% of the partners financed.
In Burkina Faso, the Foundation granted a new loan to the microfinance institution ACFIME for an amount in local currency equivalent to 457,000 euros. Created in 1992, ACFIME (Community Agency for Micro Enterprise Financing) is a microfinance institution whose mission is to offer financial and non-financial services adapted to promoters of micro and small businesses in urban and rural areas, particularly women, in order to improve their economic and social well-being. ACFIME contributes to bridging the gap not covered by large MFIs operating throughout the country. To date, the institution, which manages a portfolio of 2.3 million euros, has more than 23,000 clients, including 90% women. Only 9.4% of its clients are located in rural areas.
In the Democratic Republic of Congo, the Foundation continues its support for the microfinance institution PAIDEK with the granting of a new loan for an amount in USD equivalent to 550,000 euros. PAIDEK is a microfinance institution present mainly in the Kivu region where it operates in both rural and urban areas. The institution participates, through its activity, in the revitalization of the economy, the reduction of poverty and the establishment of an economic fabric that can constitute a solid base for the development of the country. To date, PAIDEK has nearly 16,000 clients, mainly in urban areas. 55% of these clients are women.
In Niger, the Foundation also continues its support for the microfinance institution ACEP NE, partner since 2019, with a new loan in local currency equivalent to 762,000 euros. ACEP NE is a microfinance institution created in 2012 that manages loans and savings products for urban and peri-urban micro and small businesses rejected by the traditional banking system. ACEP is committed to contributing to the economic development of Niger by promoting the development of small local entrepreneurs. To date, the institution has nearly 4,000 active borrowers, including 30% women and 71% in rural areas.
Finally, in Zambia, the Foundation granted a new loan to the microfinance institution MLF Zambia in the equivalent of €500,000 in local currency. Established in 2008, the MicroLoan Zambia Foundation is a non-profit microfinance institution. Its primary focus is providing low-income women living in predominantly rural areas of Zambia's Eastern, Southern, and Central provinces with affordable business loans and training programs. As of June 2022, the institution has 33,948 clients, exclusively women living in rural areas.
