The Foundation carries out four new financings in sub-Saharan Africa

© Didier Gentilhomme (AMZ Zambia)

During the first half of 2021, the Grameen Crédit Agricole Foundation continued its financing in sub-Saharan Africa with four new loans granted, including two to new partners.

In Togo, the Foundation granted a new loan to the microfinance institution Assilassim for an amount in local currency equivalent to 2.2 million euros. Assilassimé's mission is to provide sustainable access to appropriate social microfinance services for people in situations of exclusion or extreme poverty with limited access to the traditional microfinance system. The institution primarily seeks to enable them to carry out income-generating activities and improve their living conditions. To date, Assilassimé has more than 19,000 clients, including 91% women.

In Zambia, the Foundation granted a new loan to the microfinance institution AMZ for an amount in local currency equivalent to one million euros. AMZ aims to serve clients who were previously excluded from the formal financial market, primarily due to their poverty or place of residence. The products offered are designed to meet their financial needs. The institution has more than 80,000 clients living in 92% rural areas, of which 56% are women.

In Rwanda, the Foundation granted a first loan to the microfinance institution ASA Microfinance Rwanda for an amount in local currency equivalent to 500,000 euros. ASA Microfinance Rwanda Plc (ASA Rwanda) is an institution established in 2016 by ASA International. Its mission is to contribute to poverty reduction through economic empowerment by ensuring access to financial services to the disadvantaged community in Rwanda.. The institution grants loans using group and individual methodologies. It primarily finances women, who represent more than 95,130 million of its clientele, and operates primarily in rural areas.

Finally, in Kenya, the Foundation also granted an initial loan of an amount in local currency equivalent to 766,000 euros to the microfinance institution YEHU. YEHU is a microfinance institution whose mission is to combat poverty by empowering poor rural entrepreneurs in Kenya to help them escape poverty through greater access to sustainable financial services. This includes enabling them to save while giving them access to microloans, which can be used to start or expand their small businesses. Yehu also offers business training, microinsurance products, and other services to improve the lives of its members. To date, the institution has 28,000 clients, 96% of whom are women. 76% of its clients live in rural areas.

To date, the Grameen Crédit Agricole Foundation has 89 partners in 37 countries and manages a portfolio of 86 million euros, including 46% in so-called fragile countries.

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