The Foundation finances a new partner in Burkina Faso
The Foundation granted, over a three-year period, a first loan in local currency amounting to € 915 000 to ACEP Burkina S.A., a microfinance institution that specialises in financing microenterprises and existing small businesses in urban areas and their suburban neighbourhoods. The loans granted are primarily intended for financing working and investment capital requirements. Despite the existence of a very large mutual MFI in urban areas, microentrepreneurs have very little access to microfinance services. ACEP Burkina brings an offer tailored to the financing needs of small urban entrepreneurs. To date, the institution has 5,300 active borrowers, 22% of them being women and 65% of them living in rural areas.