Continuation of the Foundation’s financing in Sub-Saharan Africa in the 1st half of 2024 with the granting of a first loan in local currency equivalent to 1.5 million Euros to the microfinance institution UNACREP “Union Nationale des Caisses Rurales d’Epargne et de Prêts” in Benin, over a three-year period. The Foundation currently has four other partners in Benin.
UNACREP is a level 2 microfinance institution. Since its creation in 1992 by the NGO Sasakawa / Global 2000, UNACREP’s mission has been to be the main financial partner for agricultural entrepreneurs in Benin. Among its 21,063 customers, over 50% of the loan portfolio is dedicated to agricultural entrepreneurs, active in all functions of the value chain. 40% of customers are women, mainly active in the processing and sale of agricultural products. UNACREP also provides productive loans to micro-entrepreneurs active in the trade sector, and consumer loans to civil servants. Customers borrow individually (over 60%) or in groups and cooperatives.
With this new loan, the Foundation strengthens its presence in Sub-Saharan Africa, which represents 30 % of the total outstanding loans monitored by the Foundation at the end of March 2024.
To find out more about our partners, click here.