The Foundation provides financing via bonds for the first time in Oshun
Oshun: A solution for drinking water in urban and rural areas
Nearly one billion people have no access to improved drinking water sources these days. Sub-Saharan Africa is one of the most seriously affected regions: between 25% and 50% of its population do not yet have access to water from an improved source, and between 75% and 100% do not have access to piped water.
Created in 2014, Oshun deploys an innovative water supply service in rural areas. Based on an original economic model that involves local entrepreneurship, Oshun provides quality water services in water kiosks at a price that people are willing to pay because it provides optimal health guarantees. This activity, which is bound to expand in several African countries, started in the rural areas of Senegal.
For the first time, the projects committee of the Grameen Crédit Agricole Foundation approved a €200,000 loan via bonds to cover the investments and working capital of Oshun, a new partner having its registered office in France. This project is co-financed with the Regional Bank of Alpes Provence, of which one of the clients, the Société du Canal de Provence, is involved in the project. The Caisse Régionale [regional bank] has benefited from the Foundation’s expertise in the water sector and its knowledge of the local economic fabric.