The Foundation continues to develop its activity in sub-Saharan Africa

The Grameen Crédit Agricole Foundation continues to consolidate its position in sub-Saharan Africa with the granting of three new loans, including two in the Democratic Republic of Congo, to two new partners.

In Benin, the Foundation granted a new loan to the microfinance institution COMUBA, for an amount in local currency equivalent to 915,000 euros. COMUBA, A partner of the Foundation since 2015, it is an institution created in 2000 by a group of market gardeners who were unable to finance their activities through the traditional financial sector. The institution offers financial and non-financial services, particularly through group loans, and contributes to improving the well-being of low-income women. To date, the institution has more than 45,000 clients, including 91% women.

In the Democratic Republic of Congo, the Foundation granted a first loan to the GUILGAL Microfinance Company (SM Guilgal), for an amount in dollars equivalent to 950,000 euros. SM Guilgal's mission is to provide financial and non-financial services to low-income legal and natural persons, especially small traders, young people with bankable projects and farmers (grouped or non-cooperative) in order to contribute significantly and sustainably to the improvement of their living conditions, while preserving the environment. The institution serves nearly 8,000 borrowers, of which 54% are women.

Still in the Democratic Republic of Congo, the Foundation also granted a first loan to the microfinance institution minimum wage for an amount in dollars equivalent to 970,000 euros. SMICO is an institution created in 2010 with the mission of becoming a leading microfinance institution that offers rapid solutions adapted to the needs of local populations to enable them to develop income-generating activities. The institution grants loans using individual and group methodologies to more than 7,000 borrowers, including 52 women, and operates in urban areas of eastern DRC through a network of 7 branches and 94 employees.

With these two new partners, the Foundation now works with four microfinance institutions in the DRC. As of the end of July, the Foundation had 77 partners, including 521 in sub-Saharan Africa, representing 321 of its portfolio under management.

For more information about our partners, Click here.