Grameen Foundation : Where we work : Sub-Saharan Africa
Sub-Saharan Africa
Thirty-four of the world's 48 poorest countries are in Africa and more than forty percent of the continent’s 725 million people are estimated to live on less than a $1 a day. With the myriad other problems that affect millions of people across the continent, including civil conflict, natural disasters, and HIV/AIDS, the need for poverty alleviation mechanisms becomes even more urgent.
Grameen Foundation has supported microfinance development in Africa since 2003. Expanding on this work, in 2006, Grameen Foundation launched the Sub-Saharan Africa strategy to expand access to microfinance into six countries; increase rural outreach; develop the capabilities of newer MFIs; and help address some of the gaps of the microfinance sector in its ability to expand and reach out to a larger number of potential clients.
Under the guidance of the Africa Advisory Council, Grameen Foundation partners with microfinance institutions capable of expanding their countries' microfinance sectors. Through these partnerships, Grameen Foundation hopes to provide the tools and expertise to the new partner MFIs to expand their outreach by at least 350,000 clients by 2008. Advances brought about through these partnerships will ultimately be replicated and spread throughout Africa, allowing access to microfinance for all.
In the last year, Grameen Foundation has added five new partners and has worked with microfinance institutions and microfinance stakeholders in Nigeria, Ethiopia and Ghana.
In Nigeria, we are partnered with local microfinance institution LAPO, recipient of our 2006 Excellence in Microfinance Award, to help them extend their services to more than 200,000 clients by 2008. LAPO is joined by two additional partners in Nigeria, DEC and SEAP. Both SEAP and DEC are smaller MFIs with great potential. SEAP is one of the few microcredit services providers operating in the North Central region in Nigeria (Kwara State) and DEC mainly works with Muslim women in the poorest northern region of the country (Bauchi State).
In Ethiopia, we are working with ACSI, recipient of our 2007 Excellence in Microfinance the sixth top microfinance institution in the world according to Forbes, and one additional partner, SFPI. SFPI was among the first MFIs established in Ethiopia and has been experiencing remarkable growth despite its limited resources.
In Ghana, we have just partnered with SAT, a unique Financial NGO in Ghana with presence in all the Ghanaian regions and a holistic approach to microfinance.
Technology Products
Grameen Foundation has introduced innovative products in Rwanda and Uganda to improve access to communication. Village Phone, originally pioneered in Bangladesh, establishes mobile phone businesses that provide "pay phone" service for entire villages.
Learn More About Our Programs and Projects in Africa:
Grameen Foundation : Where we work : Sub-Saharan Africa
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
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