The Foundation pursues its investments in Africa
The Foundation continues to consolidate its presence in Africa with three new investments, in particular within the framework of the African Facility.
It thus granted a second loan in CFA franc equivalent to € 534,000 over a three-year period to the Beninese microfinance institution Coopérative Des Membres Unis Bethel Actions (COMUBA), whose mission is to improve the well-being of low-income women's groups in South Benin by providing them with quality financial and non-financial services. It also granted a new loan to the Togolese MFI Coopec Sifa for an amount equivalent to € 304,000 over a three-year period. This institution aims at providing small loans to poor women living in northern Togo.
Both investments have been made within the framework of the African Facility, a project developed in partnership with AFD and aimed at strengthening small African institutions with high development potential, notably through technical assistance missions.
In addition to these investments, the Foundation has also granted a new Kenyan Shilling loan amounting to € 720,000 over a three-year period to Bimas, a long-term partner whose objective is to provide training and credit to small businesses and who has expanded its activities to unbanked populations.
With these new funding, the Foundation now has 35 partners in sub-Saharan Africa, which represents 40% of its commitments. 33% of these commitments are made within the framework of the African Facility programme.