In the second half of 2022, the Foundation granted two new loans in Sub-Saharan Africa, confirming its commitment to the region’s economic and social development.
A first loan of €457,500 was granted on November 28, 2022 to the microfinance institution ACFB in Benin. A partner of the Foundation since 2017, ACFB’s mission is to facilitate access to financial services for low-income populations and micro entrepreneurs. ACFB’s social mission is to support the economic and social development of households, particularly women in rural areas. By the end of the second half of 2022, ACFB had a growing number of active borrowers (approximately 35,433), the vast majority of whom are women (94%) and clients living in rural areas (90%).
On December 1, 2022, the Foundation also granted a €500,000 loan to VisionFund Uganda. This microfinance institution, created to support vulnerable populations and microenterprises in Uganda, offers financial services adapted to the specific needs of its clients. VisionFund Uganda focuses on group lending methodology and, by the end of the second half of 2022, had a significant number of active borrowers (approximately 46,761), the vast majority of whom are women (95%) and clients living in rural areas (60%).
To learn more about the partners supported by the Foundation, click here.