Grameen Foundation Grants a First Loan to the Microfinance Institution Baobab in Burkina Faso
The Grameen Crédit Agricole Foundation is continuing to invest in West Africa with a first loan in local currency equivalent to 3.05 million euros granted to the microfinance institution Baobab in Burkina Faso.
Baobab is a financial services group present in eight countries on the African continent, including Burkina Faso, and in one province of China. Through its subsidiaries, Baobab provides financial services to half a million microentrepreneurs and small businesses, thus allowing access to financing to people who are not currently supported by traditional banks. Its product range includes microloans, savings solutions, transaction and day-to-day banking services as well as innovative banking products such as mobile payments, buy now, pay later options and digital nano-loans.