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Equity investment in the European Solidarity Financing Fund for Africa
Project
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Signature date
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Location
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Multi-country Global, Angola, Benin, Burkina Faso, Cameroon, Côte d'Ivoire, Ghana, Kenya, Morocco, Niger, Madagascar, Uganda, Senegal, Tanzania, Tunisia
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Financing tool
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Financing amount (Euro)
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6124465
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Financing details
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EUR 5.4m Equity investment and EUR 524,475 of Technical assistance
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Customer
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SOLIDARITE INTERNATIONAL DEVELOP ET INVESTISSEMENT
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Type of customer
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Microfinance
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Project number
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IZZ1006
This information is given at the time of signature, without prejudice to any developments in the operation/project.
The European Solidarity Financing Fund for Africa supports microfinance, fair trade and organic farming in local currency, while providing technical assistance to beneficiary organizations.
Client presentation
The European Solidarity Financing Fund for Africa (ESFFA) is a multi-donor instrument. It is the first instrument specialized in supporting rural microfinance organizations and producers' organizations active in the fields of fair trade and organic products in Africa. It aims to meet the microfinance needs of poor rural households and support small-scale agricultural investments throughout Africa.
Project description
The ESFFA fund aims to finance rural microfinance institutions and producers' organizations in Africa in local currency. Technical assistance will also be provided to help these institutions build their capacities in the fields of management, financial management, and the development of new products.
Project impact
This operation will allow small rural structures to access other funds on the markets and become viable in the medium and long term. The support funds have already allowed 48 technical assistance projects to be conducted with 27 organizations from 17 different African countries.