The Grameen Credit Agricole Foundation makes two new investments in Côte d'Ivoire
The Grameen Credit Agricole Foundation has granted two new loans to its microfinance partners based in Côte d'Ivoire, for a cumulative amount of € 1.8 million.
It has thus granted a second loan to the microfinance institution Advans - CI for a total amount in local currency equivalent to € 1 million, over a five-year period. Advans - CI, a subsidiary of the international microfinance group Advans, is a microfinance institution established in Côte d'Ivoire since 2012. Its mission is to widen access to quality financial services, credit and savings, as well as a full range of financial services accessible and suited to the needs of SMEs, entrepreneurs, traders, craftsmen and their families, and serve customers efficiently, affordably and transparently. To do so, the institution offers a simple and comprehensive range of financial products and services (credit, savings, means of payment, transfers, etc.) and is open to anyone with a professional activity, especially MSMEs.
The Foundation also granted a third loan to the microfinance institution PAMF - CI for a total amount equivalent to € 762,000 over a three-year period. The Première Agence de Microfinance Côte d’Ivoire S.A. (PAMF-CI), whose main activity is the collection of savings and the provision of credit, has a strong rural focus and the institution extends loans primarily intended to improve agricultural productivity, acquire livestock, and, diversifying its portfolio, assists in establishing small enterprises in rural and urban areas.
ith these two investments, the Foundation, which has been present in Côte d'Ivoire since 2015, records a total amount of commitments of € 5.2 million, which represents 24% of the Foundation’s commitments in sub-Saharan Africa.