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The Foundation grants a new loan to RENACA (Benin)

In Benin, the GCA Foundation granted a new loan in local currency, equivalent to € 488 000 over a three-year period to RENACA. The RENACA (Réseau National des Caisses villageoises d’Epargne et de Crédit Autogérées) is a mutual microfinance institution whose mission is to significantly strengthen the economic base of vulnerable rural and urban populations who are engaged in self-employment by providing quality financial and non-financial services with a view to achieving sustainability. To date, the institution has 21 500 active borrowers, 60% of them being women and 80% of them living in rural areas.