BRAC SIERRA LEONE
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
The contracting entities are BRAC Microfinance Sierra Leone Limited (BMSL) and BRAC Liberia Microfinance Company Limited (BML), wholly owned subsidiaries of BRAC International Holdings BV, which operate in microfinance. In 2008, BRAC started its microfinance activities in both Sierra Leone and Liberia. As of July 2019, BMSL has reached over 49,000 clients and BML 36,000 with their two main products: individual microloans for women delivered through groups, and enterprise loans targeting both male and female small-scale entrepreneurs.
What is our funding objective?
In this project, an in-depth market analysis will be conducted and client-centric products and services will be developed. The project has two main goals: i) to have a deeper understanding of economic activities and financial needs of smallholder farmers in Sierra Leone and Liberia, and ii) to diversify the product offerings in the two countries to address the specific needs of the smallholder farmers, especially female farmers in these countries.
Why do we fund this investment?
The development of financial products and delivery models for smallholder farmers (mainly women) is key in the context of reducing rural poverty, improving food security and supporting economic development. It is expected that interesting learnings can be derived from this project about smallholder financing. In addition, the project is well aligned with MASSIF's impact priorities and contributes to FMO’s Gender finance strategy as the main target for this project are women.
- Region
- Africa
- Country
- Sierra Leone
- Sector
- Financial Institutions
- Effective date
- 12/18/2020
- End date
- 2/1/2022
- Total FMO financing
- EUR 0.05 MLN
- Funding
- MASSIF