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Agence Communautaire pour le Financement de la Micro Entreprise (ACFIME)
Approved to post Kiva loans from: Burkina Faso
ACFIME is a microfinance institution in Burkina Faso, a landlocked, extremely poor nation located to the north of Côte d'Ivoire and Ghana. Financial services for low-income communities are very limited and the only socially-oriented MFIs in Burkina show little potential for growth. ACFIME fills the gap not covered by large MFIs serving wealthier populations.
ACFIME has 90% female clients and 24% rural clients, most of whom are illiterate. Because ACFIME gives loans to very under-served populations, it has the potential to have a huge impact.
A unique lending approach:
ACFIME offers two types of loans on Kiva: solidarity group loans and agricultural loans. The solidarity group loan is offered to groups of 5-10 clients (mostly women) in urban and rural areas.The agricultural loans not only help farmers financially, but also guarantee a buyer for their crops and help farmers get training on how to select and care for crops. ACFIME is focusing much of its attention on the agricultural loans as it expands its reach into rural areas.