The International Finance Corporation (IFC), a member of the World Bank Group, recently announced a partnership with KixiCrédito, an Angolan microcredit company, to strengthen KixiCrédito’s “delivery of digital financial services to individuals and micro-, small and medium-sized enterprises (MSMEs) across the country.” The plan includes reviewing the microlender’s current offerings, procedures and capacities as well examining its operating environment through market research, the identification of potential partners and analyzing the country’s regulatory landscape.
KixiCrédito began operating in the 1990s with funding from the UK and US governments. In 2006, it transformed from an NGO project into a microfinance institution. In 2008, KixiCrédito received an operating license from the Banco Nacional de Angola. The microlender’s services include loans for salaried workers, farmers and non-farm businessowners, often with terms of 12 months to 18 months and in amounts starting at AOA 200,000 (USD 450).
Founded in 1956, IFC offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. During the 12 months ending June 2021, IFC reported disbursements of USD 31 billion, of which about one third was mobilized from partner institutions.
By Hasnat Aslam, Research Associate
Sources and Additional Resources
Direct contact with KixiCrédito
IFC press release
https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=26900
KixiCrédito description
https://www.kixicredito.com/quem-somos/
Development Workshop profile on KixiCrédito
https://dw.angonet.org/content/microfinance
Previous MicroCapital article on IFC
https://www.microcapital.org/microcapital-brief-boa-kenya-nets-ifc-guarantee-for-lending-to-women-led-climate-focused-smes-potential-performance-based-incentives/
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