The Foundation invests in Ghana for the first time
In 2018, the Grameen Crédit Agricole Foundation consolidated its presence in Sub-Saharan Africa by investing in particular in Ghana for the first time, where it financed three partners who account for 8.1% of the new loans put in place in that year.
ID Ghana thus received a loan in local currency equivalent to €300,000. It is a Social Microfinance Institution which, thanks to its microcredit, savings and training services, and its highly innovative social vision, helps thousands of families to work their way out of poverty in a sustainable manner. It has in particular developed a group methodology whereby members are not jointly liable for their loans, and provides a subsidy to beneficiary families to register with the national health insurance system. The institution has more than 10,000 borrowers at this time, 92% of whom are women.
For its part, Advans Ghana was given a loan in local currency equivalent to €2 million. It is a financial institution which gives Ghanaian SMEs, microentrepreneurs and private individuals an opportunity to develop their business and to improve their standard of living thanks to accessible financial services. The institution has nearly 14,000 clients at this time, 62% of whom are women.
Sinapi Aba Savings and Loans is a non-banking financial institution that provides various savings and loans products. Its mission is to be an incubator that provides business development and income generation opportunities to economically disadvantaged people who can thereby improve their living conditions. The institution has thus far received a loan in local currency equivalent to €930,000. It has more than 145,000 active borrowers, some 80% of whom are women and 90% live in rural areas.