The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based nonprofit that provides financial services to microfinance institutions (MFI), recently notified MicroCapital that it disbursed the second of three tranches of a loan totaling XOF 244 million (USD 487,600) to the MFI Groupe d’Accompagnement à l’Investissement et à l’Epargne (GRAINE), which serves 40,000 women in Burkina Faso, primarily in remote areas. [1] As of 2011, GRAINE reported to the US-based Microfinance Information Exchange (MIX) total assets of USD 5.2 million, a gross loan portfolio (GLP) of USD 3.6 million, deposits of USD 839,850, return on assets (ROA) of -1.12 percent and return on equity (ROE) of -1.37 percent. Founded in 2006 by Ocades Caritas Burkina and Catholic Relief Services (CRS), a US-based charity, GRAINE offers credit to individual clients organized in Village Microcredit Groupings (VMG), averaging 30 people. As of 2012, GRAINE has 39,400 clients, of whom 99.9 percent are women and 88.1 percent live in rural areas.
GCAMF also notified MicroCapital that it disbursed the second of two tranches of a loan approximately equal to the local-currency equivalent of USD 1.3 million to Senegalese MFI, Cooperative Autonome pour le Renforcement des Initiatives Economiques par la Micro Finance (CAURIE). [1] As of 2011, CAURIE reported to MIX total assets of USD 10.1 million, a gross loan portfolio of USD 8.1 million, deposits of USD 4.1 million from 50,076 depositors, ROA of -5.69 percent and ROE of -26.39. CAURIE was founded in 2005 by Ocades Caritas Senegal and CRS, and serves 54,727 active borrowers, 99.8 percent of clients are women and 55 percent of clients live in rural areas.
For the same year, GCAMF reported total assets of EUR 51.1 million (USD 66.2 million) and 45 investment projects in 19 countries that support 30 microfinance institutions (MFIs), four social-business projects and one fund that covers foreign-exchange risk.
By Jennifer Young, Research Associate
About the Grameen Credit Agricole Microfinance Foundation (GCAMF)
The Grameen Credit Agricole Microfinance Foundation (GCAMF) was founded in Luxembourg in 2008 by Credit Agricole SA, a French retail bank, and Grameen Trust (GT), a nonprofit microfinance organization affiliated with Grameen Bank of Bangladesh. GCAMF offers financing products to microfinance institutions (MFIs), focusing on MFIs that prioritize rural development, transparency, consumer protection and serving women. As of December 31, 2011, GCAMF reports reported total assets of EUR 51.1 million (USD 66.2 million) and 45 investment projects in 19 countries that support 30 microfinance institutions (MFIs), four social-business projects and one fund that covers foreign-exchange risk.
About Groupe d’Accompagnement à l’Investissement et à l’Epargne (GRAINE) GRAINE is a microfinance institution (MFI) located in Burkina Faso. It was created in August 2006 by Ocades Caritas Burkina and the Catholic Relief Services, a charity group based in the US. It offers microfinancial services to women from rural areas. As of 2011, GRAINE reported to the US-based Microfinance Information Exchange (MIX) total assets of USD 5.2 million, a gross loan portfolio (GLP) of USD 3.6 million, deposits of USD 839,850 from 43,604 depositors, return on assets (ROA) of -1.12 percent and return on equity (ROE) of -1.37 percent. GRAINE has 39,384 active clients, 99.9% of them women and 88.1% of them customers in rural areas.
About Cooperative Autonome pour le Renforcement des Initiatives Economiques par la Micro Finance (CAURIE)
Cooperative Autonome pour le Renforcement des Initiatives Economiques par la Micro finance (CAURIE) is a Senegal microfinance institution that was established in 2005 as a credit union and cooperative by Ocades Caritas Senegal and Catholic Relief Services. CAURIE serves 54,727 active borrowers, 99.8 percent of clients are women and 55 percent of clients live in rural areas. As of 2011, CAURIE reported to the US-based Microfinance Information Exchange (MIX) total assets of USD 10.1 million, a gross loan portfolio of USD 8.1 million, deposits of USD 4.1 million from 50,076 depositors, return on assets (ROA) of -5.69 percent and return on equity (ROE) of -26.39.
Sources and Additional Resources
[1] Information provided by the Grameen Credit Agricole Microfinance Foundation (GCAMF) to MicroCapital.
MicroCapital Story, March 15, 2013, “MICROCAPITAL BRIEF: Agence Francaise de Developpement (AFD) to Guarantee Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans, Largely in Sub-Saharan Africa,”
https://www.microcapital.org/microcapital-brief-agence-francaise-de-developpement-afd-to-guarantee-grameen-credit-agricole-microfinance-foundation-gcamf-loans-largely-in-sub-saharan-africa/
MicroCapital Story, August 30, 2012, “MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Invests $2.2m in Microfinance Institutions CAURIE of Senegal, Thaneakea Phum Cambodia (TPC) of Cambodia,”
https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-gcamf-invests-2-2m-in-microfinance-institutions-caurie-of-senegal-thaneakea-phum-cambodia-tpc-of-cambodia/
MicroCapital Story, June 20, 2012, “MICROCAPITAL BRIEF: Grameen Credit Agricole Lends $467k to Microfinance Institution GRAINE of Burkina Faso, $1.2m to Angkor Mikroheranhvatho Kampuchea of Cambodia and $2.5m to LOLC Micro Credit Limited of Sri Lanka,”
https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-lends-467k-to-microfinance-institution-graine-of-burkina-faso-1-2m-to-angkor-mikroheranhvatho-kampuchea-of-cambodia-and-2-5m-to-lolc-micro-credit-limite/
MicroCapital Story, March 5, 2013, “MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $1.3m to Microfinance Institution Mitra Bisnis Keluarga (MBK) of Indonesia,”
https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-gcamf-loans-1-3m-to-microfinance-institution-mitra-bisnis-keluarga-mbk-of-indonesia/
MicroCapital Story, March 5, 2013, “MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) to Loan $599k to Oxus Tajikistan,”
https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-gcamf-to-loan-599k-to-oxus-tajikistan/
MicroCapital Universe Profile: Grameen Credit Agricole Microfinance Foundation (GCAMF)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Credit+Agricole+Microfinance+Foundation
MicroCapital Universe Profile: GRAINE
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Groupe+d%27Accompagnement+à+l%27Investissement+et+à+l%27Epargne+%28GRAINE%29
MicroCapital Universe Profile: CAURIE
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Cooperative+Autonome+pour+le+Renforcement+des+Initiatives+Economiques+par+la+Micro+finance+%28CAURIE%29
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