Access to finance
In Burkina Faso access to finance is low, it is estimated that around 14% of the total population has access to microfinance services (savings, credit, insurance) while only about 2,5% with access to credit. In the rural areas this access to financial services and credit is even lower. Starting up a micro or small enterprise requires credit and guidance, which ACFIME as local partner can offer.
ACFIME offers micro credit, micro savings and micro transfers for its clients. By doing so it creates access to financial services for a target group which is less served by the banking sector in Burkina Faso.
Amount: € 330.000 in loans & € 25.000 p/y in investments
Impact: 10.000 clients in 2015
Client base: 80% women; 20% rural; 60% groups; agricultural producers, food processors, small artisanal manufacturers, traders, 15% of the credits are in the cashew value chain
Goal and objectives | The goal of this investment project is: improve access to finance for people which do not get access to credit, savings or other financial services of commercial banks. The associated objectives are: increase the capital of ACFIME so they can provide more clients with financial services; assist ACFIME in development of new products like agricultural credits and new savings products; improve efficiency and effectiveness of ACFIME.