SIDI acquires a stake in ACEP Burkina

[chapeau]SIDI acquires a 20% stake in ACEP Burkina by purchasing the shares of the Incofin CVSO fund.[/chapeau]

Today, ACEP Burkina is the second largest microfinance institution (MFI) in Burkina Faso by portfolio size and reach: over 32,000 active customers, 23% of whom are women, and more than 15,000 borrowers. It focuses mainly on micro, small and medium-sized businesses.

Through 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 multiple challenges facing the region – political and security issues, the impact of climate change on the agricultural sector, 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 energies and seed capital for small-scale industries that create jobs and added value. In Burkina Faso, 40% of the population still lives below the poverty line.

Becoming a shareholder of ACEP Burkina is a strong commitment on the part of 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 to help strengthen the institution and promote social and environmental performance alongside financial and operational viability.

Read the press release here