Proparco, the private-sector arm of the French Development Agency (AFD), announced that it granted a loan of CFA1.3 billion, or about $2 million, to VisionFund Senegal (VFS), a microfinance institution that serves rural entrepreneurs. Women account for 95% of VisionFund Senegal’s clients.
VisionFund Senegal will use the funding to support more rural women by providing loans to expand their businesses and improve their incomes. The institution aims to strengthen beneficiaries’ economic autonomy and reach new communities that remain largely underserved.
The financing will also support the growth of the institution, which has operated since March 2017. VisionFund Senegal seeks to facilitate access for rural and vulnerable populations to the traditional financial system by offering proximity-based financial services at competitive costs.
“By reaching our clients in the last miles of rural areas, we deliver more than a loan: we give them the means to become architects of their own destiny and drivers of endogenous development,” said Agnès Diene, Managing Director of VisionFund Senegal. She added, “this partnership allows us to strengthen our impact and prove that inclusive finance forms the foundation of a resilient Senegal.”
Rural women drive local development across Senegal. They manage household resources, contribute to agricultural production and support livestock activities, which makes them essential pillars of their communities.
However, limited access to financing and productive resources continues to restrict their economic potential. The new loan seeks to address this financing gap and reinforce inclusive growth in rural areas.
This article was initially published in French by Sandrine Gaingne
Adapted in English by Ange J.A de Berry Quenum
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Nigeria, Nestlé sign MoU for dairy training center in Abuja Center to train farmers in breeding, ...
Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...
Cameroon LNG export revenue falls to CFA350.1 billion in 2025 Stable export volumes suggest decline driven by lower global prices LNG remains...
Cameroon invests CFA17 billion in palm oil production projects New plants, upgrades to boost output, farmer incomes, jobs Government-backed plan...
First Ukrainian agricultural hub in Africa launched in Ghana Project combines food aid with local processing and distribution Move signals push to...
Heineken to sell Bralima stake to Mauritius-based ELNA Holdings ELNA takes over operations; Heineken retains brands via licensing Deal aligns with...
Fally Ipupa plans a two-part album project combining urban sounds and traditional rumba. The first album “XX” releases on April 17, while “XX Delirium”...
MASA 2026 gathers artists and industry professionals from over 28 countries in Abidjan. The event features 99 performances across market and...