Supporting access to microcredits in Sub-Saharan Africa
Cameroon Côte d'Ivoire Guinea Rwanda Senegal Multi-country Africa
By investing in Finafrica via FISEA, Proparco is contributing to increasing access to credit for small borrowers and SMEs in Sub-Saharan Africa, and is supporting local employment.
Client presentation
Duval Group set up Finafrica in 2018 to develop inclusive finance in Sub-Saharan Africa. Finafrica Group has developed through external growth with the acquisition of microfinance and insurance companies. It provides these entities with the means to develop, while promoting synergies between the two activities.
Project description
Duval Group is seeking to create a leading network in the sector of financial inclusion in response to a flaw in the market, in particular by strengthening the protection of microborrowers, their activity and their homes by including insurance in loans.
The project consists of a minority equity investment by FISEA (AFD Group’s facility implemented by Proparco) in Finafrica to support its growth and investments, in particular acquisitions of new subsidiaries.
Project impact
The expected impacts of the project are:
- Support for 779 direct jobs and 49,603 indirect jobs
- Access to 14,393 microcredits and support for 1,393 MSMEs in Sub-Saharan Africa
The project will support Sustainable Development Goals (SDGs) 1 (“No poverty”), 8 (“Decent work and economic growth”) and 10 (“Reduced inequalities”).
This information is given at the time of signature, without prejudice to any developments in the operation/project
12/21/2023
Date of signature of the project
Sectors
Cameroon Côte d'Ivoire Guinea Rwanda Senegal Multi-country Africa
Location
Financing tool
7 500 000
Euros
Amount of funding
10% equity investment for EUR 2,888,880 Convertible bonds for EUR 4,611,120
FINAFRICA
Head office country
IZZ1108
CES
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on the same region
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on the same topic
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on the same financial tool
