MICROCAPITAL BRIEF: Asusu SA, West African Development Bank Sign $6.3m Loan Agreement to Enable Refinancing of Agro-industry Loans in Niger

Asusu SA, a microfinance institution (MFI) in Niger, reportedly has signed an XOF 1 billion (USD 6.3 million) loan financing agreement with the West African Development Bank. The agreement will provide funds to enable Asusu to refinance loans previously granted by Asusu to customers in the agro-industry field who have historically had little access to credit from traditional financial institutions. This financing is intended to enable Asusu to develop financial products targeted towards geographic locations deemed to have high agricultural potential, providing crop and equipment loans to microentrepreneurs seeking to establish agricultural enterprises.

The West African Development Bank reported total assets in 2003 of USD 1.3 billion. More recent financial information has not been made publicly available as of May 2013.

According to the US-based nonprofit Microfinance Information Exchange (MIX) database, as of 2011 Asusu has a gross loan portfolio of USD 9.4 million, assets of USD 17.4 million and deposits of USD 4.7 million.

By Makai McClintock, Research Associate

Sources and Additional Resources

West African Development Bank Press Release, “La BOAD Met en Place une Ligne de Refinancement de 1 Milliard de FCFA en Faveur de l’Institution de Micro Finance ASUSU SA en Republique du Niger,” http://www.boad.org/LinkClick.aspx?fileticket=z1y0ejyXxpE%3d&tabid=40&mid=494

Microfinance Information Exchange Database, “Asusu SA,” http://www.mixmarket.org/mfi/asusu-sa

MicroCapital, March 15, 2013, “MICROCAPITAL BRIEF: Agence Francaise de Developpement (AFD) to Guarantee Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans, Largely in Sub-Saharan Africa,” https://www.microcapital.org/microcapital-brief-agence-francaise-de-developpement-afd-to-guarantee-grameen-credit-agricole-microfinance-foundation-gcamf-loans-largely-in-sub-saharan-africa/

MicroCapital, January 11, 2011, “MICROCAPITAL BRIEF: West African Development Bank (WADB) Loans $3m to Kafo Jiginew, a Malian Microfinance Institution (MFI) and Funder of Credit Unions,” https://www.microcapital.org/microcapital-brief-west-african-development-bank-wadb-loans-3m-to-kafo-jiginew-a-malian-microfinance-institution-mfi-and-funder-of-credit-unions/

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