Oikocredit invests €2.3m in Fin’Elle to support women entrepreneurs in Côte d'Ivoire
14-07-2021 11:19:00 | by: Pie Kamau | hits: 3239 | Tags:

Social impact investor Oikocredit provided a loan of €2.3 million 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.

Kady Traore, CEO of Fin'Elle said, “Fin'Elle is delighted with Oikocredit's confidence and support. This € 2.3 million credit line will enable us to accelerate the implementation of our policy of financing women entrepreneurs. 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."

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.

Cedrick Montetcho, Regional Investment Officer at Oikocredit said, "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."