MicroCred Ivory Coast
Only 12 to 15% of the population in Ivory Coast, which has 23 million inhabitants, has access to finance. MicroCred Ivory Coast aims to meet this largely unmet demand in the country’s post-conflict recovery economy. It is predominantly active in urban Abidjan and planning to expand to outside the Ivorian capital. MicroCred Ivory Coast offers a range of financial products and services, ranging from credit and savings products to ATM prepaid cards, remittances and microinsurance. A good example is the Serenis life insurance product that offers assistance for funerals and children’s schooling expenses.
Triodos Fair Share Fund and Triodos Microfinance Fund have provided long-term finance to MicroCred Ivory Coast to expand its loan portfolio.
KEY INDICATORS as of 31 December 2016:
- number of loan clients: 24,534
- percentage female clients: 44%
- percentage rural clients: 0%
- average loan amount: EUR 3,550
- number of savings clients: -
Whoever you are, and wherever you live in the world, you are likely to want permanent access to financial services. Microfinance banks play a crucial role providing access to finance to an increasing number of people living on low-incomes. We finance microfinance institutions because they help to build inclusive financial sectors, where the majority of people have access to financial services, leading to a sustainable basis for balanced social and economic development.