Bénin

Financial services

Financing granted

Loan of €1.7M *
(equivalent in local currency)

Foundation partner

since 2013
(3 loans granted)

*Outstanding amount at grant value

Context:

Benin’s economy is heavily dependent on informal re-export and transit trade with Nigeria (estimated at 20% of GDP) as well as on agriculture. Women are penalized by a lack of access to economic opportunities and are under-represented in senior positions.

The institution:

RENACA is a Tier 2 microfinance institution created in 2005 by the NGO CBDIBA to strengthen significantly the economic base of vulnerable rural, peri-urban and urban self-employed populations.

Impact:

RENACA aims to strengthen significantly the economic base of vulnerable rural and urban self-employed populations by providing them with financial and non-financial services. The institution encourages its members to save. Such deposits are then used to feed a common fund, which provides a basis for granting credit to small producers.

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