The Foundation finance a new partner in Uganda
In Uganda, the Foundation made a new investment to Strømme Foundation East Africa (SMF EA) a new partner which is part of Strømme Foundation, a Norwegian international development organisation. SMF EA, whose microfinance activities began in 2004, works in Uganda, Kenya and Tanzania. Its objective is to provide, on a sustainable basis, financial services adapted to the market, and capacity building support for financial and business services providers, in order to facilitate access to financial services for poor entrepreneurs in Eastern Africa. Strømme has been granted a € 1 million loan by the Grameen Crédit Agricole Foundation, over a four-year period. To date, the institution has more than 25 partner MFIs, over 50% of them based in Uganda. The MFIs funded by SMF EA serve around 2 million clients, 66% of them being women.