LuxDev and ADA Provide €235,000 to Support Young Entrepreneurs in Niger

07 Jan 2016

To facilitate access to credit for young Africans, LuxDev and ADA are collaborating in this context for a total amount of €200,000, initially capitalized at €35,000 by the Rotary "Espoir 2005", to help young artisans via the Nigerian microfinance institution ASUSU.

Since 2008, ADA has run the project "Initiative Jeunes Afrique - Créd’art", Jeunes Entrepreneurs Afrique to help young unemployed Africans, with the aim of giving young artisans a helping hand to set up their own business. It provides financial and non-financial services, comprising a microcredit, financial education and business management training, and tailor-made support until repayment intended to fund activities to kick-start their projects. Originally created in Burkina Faso with the microfinance institution RCPB, the Réseau des Caisses Populaires du Burkina, and the CIF network, Confédération des Institutions Financières de l’Afrique de l’Ouest, the project has already helped to finance more than 1,500 young people in Burkina Faso and create 2,300 jobs.

ADA, with the financial support of the Rotary "Espoir 2005", has decided to extend this experience to two other African countries: in Togo, with the MFI (microfinance institution) partner FUCEC, and in Niger, with the MFI ASUSU. It is in the framework of this latest partnership that the Luxembourg Agency for Development Cooperation, LuxDev, has allocated €200,000 to ADA to supply this fund and partially cover the risk of unpaid bills for young graduates. It is therefore in the framework of this collaboration with ADA, and more specifically through the support mechanisms that will be put in place, that this guarantee fund can be an economic lever facilitating the obtaining of start-up loans intended for young graduates who have begun viable economic projects.

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