16 August 2022

During the first half of 2022, the Grameen Crédit Agricole Foundation continued its investments by granting four new loans in sub-Saharan Africa, a region in which it has 40 partners, which corresponds to 53% of the total of partners financed.

In Burkina Faso, the Foundation granted a new loan to ACFIME for an amount in local currency equivalent to 457 000 euros. Founded in 1992, ACFIME (Community Agency for the Financing of Micro Enterprises) is a microfinance institution whose vocation is to offer financial and non-financial services adapted to promoters of micro and small enterprises in urban and rural areas, in particular women, in order to improve their economic and social well-being. ACFIME contributes to filling the gap not covered by the large MFIs that operate throughout the country. To date, the institution, which manages a portfolio of 2.3 million euros, has more than 23 000 clients, 90% of whom are women. Only 9.4% of its customers are located in rural areas.

In the Democratic Republic of Congo, the Foundation is continuing its support for the microfinance institution PAIDEK with the granting of a new loan for an amount in USD equivalent to 550 000 euros. PAIDEK is a microfinance institution present mainly in the Kivu region where it operates in both rural and urban areas. The institution participates, through its activity, in the revitalization of the economy, the regression of poverty and the establishment of an economic fabric that can constitute a solid basis for the development of the country. To date, PAIDEK has nearly 16,000 customers, mainly in urban areas, 55% of these customers are women.

In Niger, the Foundation is also continuing its support for the microfinance institution ACEP NE, a partner since 2019, with a new loan in local currency for an amount equivalent to 762 000 euros. ACEP NE is a microfinance institution created in 2012 that manages loans and savings products for urban and peri-urban micro and small businesses rejected by the traditional banking system. ACEP is committed to contributing to the economic development of Niger by promoting the development of small local entrepreneurs. To date, the institution has nearly 4 000 active borrowers, 30% of whom are women and 71% in rural areas.

Finally, in Zambia, the Foundation granted a new loan to the microfinance institution MLF Zambia for an amount in local currency equivalent to 500 000 euros. Established in 2008, MicroLoan Zambia Foundation is a non-profit microfinance institution. Its main activity is to provide low-income women living in the predominantly rural areas of the Eastern, Southern and Central Provinces of Zambia with affordable commercial loans and training programmes. As of June 2022, the institution has 33,948 clients, all of whom are women living in rural areas.

More information about our partners here