Foundation capital

MICROCAPITAL BRIEF: The Grameen Crédit Agricole Foundation lends $2.2 million in local currency to ACEP Burkina for on-lending to micro, small and medium-sized enterprises (MSMEs)

The Grameen Crédit Agricole Foundation (GCA), based in Luxembourg, has announced that it has lent in local currency the equivalent of approximately 2.2 million dollars to the microfinance institution (ACEP) of Burkina. One of the four members of the ACEP Group, ACEP Burkina provides financial services to micro, small and medium-sized enterprises (MSMEs) in urban areas of Burkina Faso. The institution was established in 2009 and has nine branches, 228 employees, a loan portfolio of 49 million euros (53 million dollars) and 18,000 customers – of which 21% will be women in 2021.

The ACEP Group holds stakes in ACEP Burkina, ACEP Cameroon, ACEP Madagascar and ACEP Niger. As of 2021, these institutions employ 1,200 people, hold a total gross loan portfolio of €107 million ($116 million), and serve 148,000 clients, 40% of whom are women.

ACEP Group was created by ACEP International, a private company whose ownership includes its co-founder Thierry Perreau; Investisseurs et Partenaires (I and P), a France-based investor in small and medium enterprises in sub-Saharan Africa; and BIO (Belgian Investment Company for Developing Countries).

Crédit Agricole, a French retail bank, in partnership with Muhammad Yunus, the founder of Grameen Bank, created the GCA Foundation in 2008. The organization seeks to reduce poverty by providing financing and technical assistance to institutions of microfinance and other social enterprises. As of December 2021, the GCA Foundation has a portfolio of 78 million euros ($88 million) in circulation with 81 partners in 37 countries in Africa and Eurasia. About 81% of its issuing companies’ clients live in rural areas and 90% are women.

By Vighnesh Avadhanam, Research Associate

Sources and additional resources

GCA Foundation press release

Profile of the GCA Foundation on ACEP Burkina

ACEP Group Homepage

I&P home page

ORGANIC home page

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