New shareholder in ACEP Burkina : SIDI acquires 20% equity stake
Today, ACEP Burkina is the second largest microfinance institution (MFI) in Burkina Faso by portfolio size and outreach: more than 32,000 active clients, 23% of whom are women, and over 15,000 borrowers. It focuses mainly on micro, small and medium-sized enterprises.
With this acquisition, SIDI wishes to strengthen its commitment to the development of inclusive finance in Africa and more particularly in the Sahel region. Given the many challenges facing the region – political and security issues, the impact of climate change on the agricultural sector, the lack of employment opportunities, particularly for young people – SIDI considers it a priority to develop its activities in the area in order to achieve its mission of social and environmental transition.
SIDI is currently working with 9 partners in Burkina Faso in a wide variety of sectors: inclusive finance, sustainable agricultural value chains, renewable energy and seed capital for small industries that create jobs and added value. In Burkina Faso, 40% of the population still lives below the poverty line.
Becoming a shareholder in ACEP Burkina is a strong commitment for SIDI and an opportunity to strengthen and diversify its activities in the country by including in its portfolio one of the leading and strong MFIs in the financial inclusion market. SIDI will therefore play an active role in governance in order to contribute to ensure social and environmental performance as well as financial and operational viability.
Read the full press release23 May 2022