Benin

Financial services

Financing granted

Loan of €1.5M *
(equivalent in local currency)

Foundation partner

since 2019
(1 loan granted)

*Outstanding amount at grant value
Partner website

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:

Vital Finance is a Tier 2 microfinance institution created in 1998 to contribute to the development of economic activities through the growing expansion of local financial services for low-income but economically active populations.

Impact:

Vital Finance offers proximity services, helps improve operational efficiency and reduces the cost of services, while promoting income generating activities and in so doing contributing to the socio-economic development of rural communities.

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