The Grameen Crédit Agricole Foundation continues to fund in West Africa with a first loan in local currency equivalent to 3.05 million euros granted to the microfinance institution Baobab in Burkina Faso.
Baobab is a financial services group present in eight countries on the African continent, including Burkina Faso, and in one province of China. Through its subsidiaries, Baobab provides financial services to half a million microentrepreneurs and small businesses, thus allowing access to financing to people who are not currently supported by traditional banks. Its product range includes microloans, savings solutions, transaction and day-to-day banking services as well as innovative banking products such as mobile payments, buy now, pay later options and digital nano-loans.
To date, Baobab Burkina Faso has nearly 13,000 borrowers, 41% of whom are women.
For more information on the organisations supported by the Foundation, click here.