Crédit Rural de Guinée is by far the country’s leading Microfinance Institution (MFI), with 450,000 customers throughout the country. This is an MFI organized on a mutual basis into local mutuals, headed by a public limited company (SA) responsible for overall management and fund-raising. This MFI has a strong presence in the rural and agricultural sector, with over 40% of its portfolio in this sector. Last but not least, it targets group and individual micro-credit.
Guinea is a country with considerable assets (mineral resources, soil and climate diversity, strategic location) but suffers from very poor governance, as does the DRC. In this respect, the country suffers in comparison with its bulky neighbours (Senegal and Côte d’Ivoire), which are far more developed, both economically and in terms of human capital. Another specificity of this country is the local currency, the Guinean franc, which is weaker than the FCFA. Yet the initiatives are there and the potential for development is great.
The partner’s impact is particularly important for vulnerable populations, especially in rural areas. The ongoing development of digitalization following a major reorganization of the branch network, with substantial funding from AFD, will enable the MFI to significantly improve its reach and the quality of its financial services.