Impact investor Oikocredit provides US$2.72m loan to Fin’Elle for SMEs

CÔTE D’IVOIRE – Oikocredit, a social impact investor, has provided a loan of €2.3 million (US$2.72m) to Fin’Elle, a microfinance institution (MFI) focused on empowering women entrepreneurs by providing microfinance and mesofinance loans to women-owned small to medium enterprises (SMEs) in Côte d’Ivoire.

Fin’Elle’s mesofinance products cater to the needs of SMEs that need a loan but would be seen as too small for commercials banks and too big for MFIs.

In addition to the loan, Oikocredit plans on further supporting Fin’Elle with technical assistance to help them improve women’s financial literacy and increase financial inclusion in Côte d’Ivoire.

“Fin’Elle is delighted with Oikocredit’s confidence and support. This €2.3 million (US$2.72m)credit line will enable us to accelerate the implementation of our policy of financing women entrepreneurs,” Kady Traore, CEO of Fin’Elle said.

“We have no doubt that this is the beginning of a beautiful journey together with Oikocredit, which constantly demonstrates its interest in gender equality and social inclusion.”

“This €2.3 million (US$2.72m)credit line will enable us to accelerate the implementation of our policy of financing women entrepreneurs.”

Kady Traore – CEO, Fin’Elle

Created in 2018, Fin’Elle is a microfinance institution dedicated to empowering women entrepreneurship. With a range of savings, credit products, and training sessions, Fin’Elle is committed to the promotion of a pan-African model of inclusive finance for women.

Fin’ Elle has more than 9,000 clients and is ranked 9th in the ranking of MFIs in Côte d’Ivoire. Fin’Elle is a subsidiary of the Groupe Cofina, the African leader in mesofinance.

“We are proud to be the first international lender in financing Fin’Elle. We are looking forward to providing Fin’Elle with capacity building support and technical assistance to help them achieve a higher social impact amongst women entrepreneurs,” Cedrick Montetcho, Regional Investment Officer at Oikocredit said.

Oikocredit has 45 years of experience funding organisations active in financial inclusion, agriculture and renewable energy. It finances 544 partners, with total outstanding capital of €856 million (US$1b).

Oikocredit’s loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably.

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