MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $437k in Local Currency to Microfinance Institution (MFI) GRAINE of Burkina Faso

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs) and other social businesses, recently informed MicroCapital that it has disbursed a local currency, two and a half-year loan equivalent to EUR 385,000 (USD 437,000) to Groupe d’Accompagnement a l’Investissement et a l’Epargne (GRAINE), an MFI in Burkina Faso. The loan is part of the MFI’s refinancing under the African Facility for Inclusive Markets framework, a partnership between the Regional Bureau for Africa and the United Nations Development Fund’s Africa Regional Service Centre that aims to support the development of “inclusive, pro-poor markets” in an unspecified number of African countries.

As of year-end 2014, GRAINE reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 4.78 million, a gross loan portfolio of USD 3.59 million, return on assets (ROA) of -4.10%, return on equity (ROE) of -7.12%, and approximately 28,000 active borrowers. As of December 2013, GCAMF reported total assets of EUR 50.6 million (USD 63.3 million). Since its inception in 2008 through 2013, the foundation has invested in 35 microfinance institutions (MFIs), 11 social-business projects and one fund in 22 countries.

By Charlotte Newman, Research Associate

About GRAINE: GRAINE is a microfinance institution located in Burkina Faso. GRAINE was created in August 2006 by Ocades Caritas Burkina and the Catholic Relief Services, a charity group based in the US. As of December 31, 2014, GRAINE reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 4.78 million, a gross loan portfolio of USD 3.59 million, return on assets (ROA) of -4.10%, return on equity (ROE) of -7.12%, and approximately 28,000 borrowers.

About Grameen Credit Agricole Microfinance Foundation: The Grameen Credit Agricole Microfinance Foundation (GCAMF) provides financial services to microfinance institutions (MFIs) and other social businesses. GCAMF was founded in Luxembourg in 2008 by Crédit Agricole SA, a French retail bank, and Grameen Trust, a non-profit microfinance organization affiliated with the Grameen Bank of Bangladesh. In financing microfinance institutions (MFIs), GCAMF focuses on those that prioritize rural development, transparency, consumer protection and serving women. The foundation has been active in 18 countries in Africa, Asia, and Europe. As of December 2013, GCAMF reported total assets of EUR 50.6 million (USD 63.3 million). Since its inception in 2008 through 2013, the foundation has invested in 35 microfinance institutions (MFIs), 11 social-business projects and one fund in 22 countries.

Sources and Additional Resources:

[1] Information provided directly to MicroCapital by GCAMF.

[2] African Facility for Inclusive Markets

MicroCapital Universe Profile: Graine

MicroCapital Universe Profile: Grameen Credit Agricole Microfinance Foundation

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/

 

Similar Posts: