The Grameen Crédit Agricole (GCA) Foundation, whose head office is in Luxembourg, has granted its first loan to Entrepreneur Financial Center (EFC), a microfinance institution (MFI) located in Zambia. The three-year loan is in local currency equivalent to approximately USD 1.8 million. EFC Zambia serves micro-, small and medium-sized enterprises (MSMEs) and has eight branches. The MFI holds 20,000 savings and term deposit accounts and as of February 2021 has disbursed 51,000 MSME loans totaling ZMW 155 million (USD 7.2 million). It has 3,000 borrowers, nearly half of whom are women or organizations owned by women. In addition to business loans, the MFI offers
