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It has thus financed two partners in Kenya: BIMAS, with a loan of 500,000 euros, and VERT Ltd. with a loan of 440,000 euros. BIMAS is a microenterprise development program (MED-P) established in 1992 under the auspices of PLAN Embu. Its objective is to contribute to sustained economic growth and employment in the rural sector, which will result in improved social well-being and increased income for the rural population in Kenya. To date, BIMAS has more than 18,500 clients, including 66.5% women. VERT Ltd., for its part, is a company specializing in the export of fresh fruits and vegetables. The company, created in 2000, has adapted its business model over the years to better meet the specificities of the European market and adapt to current legislation. It has also implemented a more sustainable model by working directly with small local farmers organized into small groups. The Foundation has been a shareholder in VERT Ltd since 2016.<\/p>\n
The Foundation also provided its first-ever loan to the MicroLoan Foundation in Malawi, providing \u20ac256,000. The MicroLoan Foundation is a UK-based microfinance charity that provides business training, loans, and ongoing support to women living in Malawi, Zambia, and Zimbabwe. The organization's primary goals are poverty reduction and women's empowerment. In Malawi, the institution now has nearly 30,000 clients, all women. In Uganda, the Foundation provided a new loan to the microfinance institution UMF, providing \u20ac700,000. UMF (Uganda Microcredit Foundation) is a microfinance institution that provides loans and other microfinance services to economically active people in Uganda. The institution specializes in commercial and personal, financial, and non-financial products for businesses and individuals to facilitate their development. The institution has more than 4,000 clients, including 54% women and 70% in rural areas.<\/p>\n
In Zambia, the Foundation also funded two partners: AMZ with a \u20ac600,000 loan over a four-year period and FINCA Zambia with a \u20ac1.2 million loan over a three-year period. Agora Microfinance Zambia (AMZ) is a microfinance institution that specifically targets low-income people with appropriate financial products. AMZ aims to serve clients who were previously excluded from the formal financial market, primarily due to their poverty or place of residence. It has over 25,000 clients in 391 rural areas. 611 of these clients are women. FINCA Zambia, for its part, is a multi-service microfinance institution that currently serves over 9,000 clients with financial services, including loans, savings, payments, and money transfers. FINCA Zambia's clientele includes 571 women.<\/p>\n