Microfinance in Africa

Did you know that more than 1.7 billion people around the world do not have a bank account? This prevents them from having access to financing for a revenue generating activity.

That’s where we step in. We help the most vulnerable by providing loans and technical assistance to microfinance institutions. In turn, these institutions grant guarantees, loans and give advice to micro-businesses and micro-entrepreneurs, with a focus on activities that provide, among others, an income to women, young people and those living in rural and poorer communities.

Africa accounts for the most of our portfolio. We are proud of the impact we have – here's why.

Côte d'Ivoire

Afrifa’s hair salon

Discover the inspiring journey of Afrifa Christe as she transforms her life and realises her entrepreneurial dreams. Balancing the demands of motherhood and a career, Afrifa sought a solution that would grant her more quality time with her family. That's when an idea struck her—to establish a hair salon in an underserved community.

Thanks to a loan from Baobab microfinance firm, backed by the European Investment Bank, Afrifa turned her visionary project into a resounding success.

Today, her thriving hair salon not only fulfils her passion but also enables her to cherish precious moments with her loved ones. Delve with us into Afrifa's remarkable story!

Côte d'Ivoire

Kouadio's sewing shop

Kouadio Kouadio is the passionate and determined owner of a sewing supply shop in Côte d'Ivoire, whose dreams turned into reality with the help of Baobab microfinance firm.

Through a small loan provided by Baobab, Kouadio was able to open his shop to become financially independent.

Discover Kouadio's inspiring story!

Morocco

Najia’s cooperative

Najia Moughal is a co-owner of the Ittihad Cooperative in Azrou, Morocco. The cooperative has provided Najia and other women with the chance to showcase their talents and succeed in their entrepreneurial pursuits.

Through the support of the Attadamoune Micro-Finance loan, the cooperative has been able to flourish by selling its products not just locally, but also online, reaching a wider customer base and providing jobs for more people.

Najia's inspiring story was made possible thanks to the support of EIB Global's Financial Inclusion Fund. This fund helps microfinance institutions such as Attadamoune support projects like Najia's, empowering entrepreneurs and promoting financial inclusion.

Mali

Mamadou's chicken incubator

Mamadou Soumare is an entrepreneur in Moribabaougou, Mali. In 2016, he embarked on his entrepreneurial journey, focusing on incubating eggs and selling the resulting chicks. However, Mamadou faced a significant hurdle in his business: limited access to funding. With insufficient local resources, he had to import materials, incurring substantial expenses.

Mamadou's path took a positive turn when he received a game-changing loan from Cofina Mali, backed by the Financial Inclusion Fund. This support enabled him to boost his operations, increasing his turnover and productivity. Today, Mamadou's business is not only thriving but also expanding, leading to the creation of jobs in his community.

Here is Mamadou’s story!

Zambia

Justyna's farm

Welcome to Mukako, Zambia, where we introduce you to Justyna Phiri, a dedicated farmer and member of the Mukako Chiefdom cooperative. Accessing essential banking services was a challenge for her,as she was forced to long commuting to the nearest financial institution. To protect their hard-earned savings, people of her community resorted to keeping their money at home, risking potential loss due to fires or theft.

Thanks to the eTumba mobile wallet, developed with the support of the Financial Inclusion Fund, Justyna can now conduct seamless banking activities without leaving the farm. This ground-breaking solution has not only safeguarded her finances, but also granted her community easy accessibility to their funds, offering peace of mind and empowering their agricultural pursuits.

Justyna explains how.

Our microfinance support

We help the most vulnerable by providing loans and other support to microfinance.

We are committed to microfinance operations that demonstrate enhanced social and environmental policies, impact and added value, while focusing on activities that provide, among others, an income to women, young people and those living in rural and poorer communities.

Discover how