Agence Communautaire pour le Financement de la Micro Entreprise (ACFIME)

Agence Communautaire pour le Financement de la Micro Entreprise (ACFIME)

Lending Partner since 2014 • Burkina Faso
Fundraising Status:active
Risk Rating:

What to know about this Lending Partner

Impact Category:
General Financial Inclusion
Default Rate:
0.03%
Currency Exchange Loss Rate:
0%
Total Loans Raised:
$5,598,305
Loans at Risk Rate:
7.11%
Kiva Borrowers:
3,500
Delinquency Rate:
3.72%
Interests and Fees:
29% PY
See all previous loans See all fundraising loans

Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.

Partner Description:

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.