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Affordable glasses for the lower and middle classes in Benin, Côte d'Ivoire and Togo
Project
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Signature date
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Location
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Benin, Côte d'Ivoire, Togo, Multi-country Africa
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Financing tool
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Financing amount (Euro)
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450000
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Financing details
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EUR 450,000 loan
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Customer
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Lapaire Glasses SA
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Type of customer
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Company
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Country of headquarters
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Switzerland
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Project number
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PZZ1718
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Environmental and social ranking
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IF-C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated financing to Lapaire, a specialist in retailing quality low-cost glasses.
Client presentation
Lapaire is a chain of opticians offering its clients in West and East Africa quality low-cost glasses. With its prices and flexible payment options, Lapaire targets lower and middle-class people (45% of its clients earn less than the average income). The vast majority of them do not have insurance (or it does not cover optical costs).
Project description
Proparco is supporting Lapaire with EUR 450,000 of Bridge by Digital Africa financing. With this financing, Lapaire will be able to break even and stabilize the group’s economic model and profitability.
Project impact
95% of Lapaire’s clients do not have insurance, compared to 10% for normal opticians. In this context, 70% of Lapaire’s client base is also made up of people buying their first pair, despite having problems with their eyesight for a long time. This shows how Lapaire’s activity changes the lives of its clients.