Loan of €457,000 *
(equivalent in local currency)
*Outstanding amount at grant valuePartner website
Agriculture accounts for more than 30% of Burkina Faso’s GDP and employs nearly 80% of the working population. Despite a decrease in poverty, 40% of the population still lives below the poverty line and 57% of the population does not have a bank account.
ACFIME (Agence Communautaire pour le Financement de la Micro Entreprise) is a Tier 3 microfinance institution that was created in 1992 as a microfinance programme launched by the American NGO World Relief. The mission of the institution is to provide financial and non-financial services tailored to micro and small business promoters 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 the large MFIs operating throughout the country. As financial services for low-income populations are severely limited in Burkina Faso, loans granted by ACFIME to very underserved populations have a very high potential for social impact.