MICROCAPITAL BRIEF: Microfinance Institution PEBCo-Bethesda of Benin Borrows $2m from Incofin via Agricultural Liquidity Fund

Incofin, a Belgium-based investor, recently disbursed a loan of EUR 2 million (USD 2.1 million) to PEBCo-Bethesda, a microfinance institution in Benin, from the Agricultural Liquidity Fund (ALF). PEBCo was founded in 1996 with a focus on serving women. Its services include savings, credit, tontines, financial education and literacy training as well as connections to mobile money, remittances and social services. The tontines, which are community savings and loan groups, offer periodic deposits as low as XOF 500 (USD 0.80).

ALF has a volume of EUR 40 million (USD 42 million) provided by institutions backed by the national and state governments of Germany. The fund is managed by Incofin with the aim of supporting sustainable agriculture in Africa and Latin America.

Founded in 2001, Incofin is a for-profit firm that seeks “to promote inclusive progress.” As of 2022, it had 350 investees in 65 countries, mostly active in financial inclusion and agriculture. The firm has offices in Belgium, Cambodia, Colombia, India and Kenya. Incofin’s portfolio was valued at USD 1.4 billion as of 2021 and comprises funds affiliated with organizations such as the Belgian cooperative BRS, the German firm Invest in Visions and Belgium’s vdk bank.

By Tiyasha Sarkar, Research Associate

Sources and Additional Resources

Incofin press release
https://incofin.com/incofin-invests-to-bolster-sustainable-agriculture-and-climate-resilience-in-benin/

PEBCo homepage
https://pebcobethesda.com/

ALF description
https://incofin.com/alf/

Incofin homepage
https://incofin.com/

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