The Foundation grants a first loan to the Baobab microfinance institution in Burkina

The Grameen Crédit Agricole Foundation is continuing its financing in West Africa with a first local currency loan equivalent to €3.05 million granted to the microfinance institution Baobab in Burkina Faso.

Baobab Baobab is a financial services group operating in eight countries across Africa, including Burkina Faso, and in one province of China. Through its subsidiaries, Baobab provides financial services to half a million microentrepreneurs and small businesses, providing access to finance to people who currently lack access to traditional banks. Its product range includes microloans, savings solutions, transaction and daily banking services, as well as innovative banking products such as mobile payments, buy now, pay later options, and digital nanoloans.

To date, Baobab Burkina Faso has nearly 13,000 borrowers, including 41% women.

For more information on the organizations supported by the Foundation, click here.