Share the page

Supporting access to microcredits in Sub-Saharan Africa

Project

Microfinance
Signature date
Location
Cameroon, Côte d'Ivoire, Guinea, Rwanda, Senegal, Multi-country Africa
Financing tool
Bonds, Equity investment
Financing amount (Euro)
7500000
Financing details
10% equity investment for EUR 2,888,880 Convertible bonds for EUR 4,611,120
Customer
FINAFRICA
Type of customer
Microfinance
Country of headquarters
France
Project number
IZZ1108
Environmental and social ranking
IF-C
Download the report

This information is given at the time of signature, without prejudice to any developments in the operation/project.

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”).