Finafrica is the first microfinance network offering insurance products in Africa and aims to become a key player in financial and insurance inclusion in the continent. The company provides better protection for micro-entrepreneurs (including their households), a lower cost of credit for borrowers benefiting from insurance and a more controlled cost of risk for microfinance institutions. This investment – comprising an equity fundraise together with a convertible bond – will enable Finafrica to consolidate its growth and pursue its network expansion strategy across Africa, reinforcing its financial inclusion mission.
About Finafrica
Founded in 2018, Finafrica is a subsidiary of Groupe Duval and is the first microfinance network offering insurance products in Africa. With its ten subsidiaries, Finafrica supports 1.2 million clients on a daily basis in five countries (Guinea, Cameroon, Senegal, Côte d’Ivoire and Rwanda).
About Proparco
Proparco is a subsidiary of the French Development Agency group and has been working alongside the private sector for over 45 years with a diversified range of financial tools adapted to the company’s different stages of development.
