In recent months, the Grameen Crédit Agricole Foundation has pursued its financing in sub-Saharan Africa with four new loans granted, two of which to new partners.
In Togo, the Foundation granted a new loan to the microfinance institution Assilassimé for an amount in local currency equivalent to € 2.2 million. Assilassimé’s mission is to provide sustainable access to social microfinance services adapted for people experiencing exclusion or extreme poverty, with limited access to the traditional microfinance system. The institution seeks first and foremost to enable them to carry out income-generating activities and improve their living conditions. To date, Assilassimé has over 19,000 clients, 91% of whom are women.
In Zambia, the Foundation granted a new loan to the microfinance institution AMZ for an amount in local currency equivalent to € 1 million. AMZ aims to serve customers who have previously been excluded from the formal financial market, mainly because of their poverty or their place of residence. The products offered are designed to meet their financial needs. The institution has over 80,000 active borrowers, 92% of whom live in rural areas and 56% of whom are women.
In Rwanda, the Foundation granted a first loan to the microfinance institution ASA Microfinance Rwanda for an amount in local currency equivalent to € 500,000. ASA Microfinance Rwanda Plc (ASA Rwanda) is an institution created in 2016 by ASA International. Its mission is to contribute to poverty reduction through economic empowerment by ensuring access to financial services to the disadvantaged community of Rwanda. The institution grants loans according to group and individual methodologies. They mainly finance women who represent more than 95% of its clientele, and mainly operates in rural areas.
Finally, in Kenya, the Foundation also granted a first loan for an amount in local currency equivalent to € 766,000 to the microfinance institution YEHU. YEHU is a microfinance institution whose mission is to fight poverty by empowering poor rural entrepreneurs in Kenya to help them lift themselves out of poverty through better accessibility to sustainable financial services. This includes enabling them to save while giving them access to microloans, which can be used to start or grow their small business. Yehu also offers business training, microinsurance products and other services to improve the lives of its members. To date the institution has 28 000 clients, 96% of whom are women. 76% of its clients live in rural areas.
To date, the Grameen Crédit Agricole Foundation has 89 partners in 39 countries and manages a portfolio of €86 million, 46% of which is located in so-called fragile countries.
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