Fin'Elle, La Finance pour Elle S.A.
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer?
Fin’ELLE is a young MFI based in Abidjan whose mission is to create added value for women entrepreneurship and participate sustainably in their financial & social emancipation. Fin’ELLE is part of the COFINA Group, which acquired a majority stake in 2018.
What is our funding objective?
The loan facility to Fin’ELLE will support on-lending to women micro-entrepreneurs and SMEs, which is fully aligned with FMO’s strategic goal of reducing inequalities and promoting gender equality.
Why do we fund this investment?
The transaction is the 3rd one that FMO pursues with the COFINA Group. In CdI, ~98% of companies are MSMEs but only 18% are led by women, and ~70% of women are excluded from the financial sector. In addition, the MSMEs led by women are more financially constrained than MSMEs led by men. Resultingly, Fin’ELLE’s passion and commitment is to support women entrepreneurship through the provision of financial and non-financial services. In addition, even though Côte d’Ivoire has maintained a strong economic growth rate in the last years, close to one person out of two still live below the national poverty line. Fin’ELLE’s portfolio is dedicated to MSME funding, in particular towards women, and FMO’s loan will thereby drive financial inclusion, which is critical in reducing poverty and achieving inclusive economic growth.
What is the Environmental and Social categorization rationale?
Fin’ELLE is classified as Cat. C. Deal team has identified no high-risk exposures in the loan portfolio of the client.
More investments
| Date | Total FMO financing |
|---|---|
| 8/26/2021 | EUR 0.12 MLN |
- Region
- Africa
- Country
- Côte d'Ivoire
- Sector
- Financial Institutions
- Publication date
- 5/27/2021
- Effective date
- 11/11/2021
- End date
- 1/21/2025
- Total FMO financing
- EUR 3.00 MLN
- Funding
- MASSIF
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C