Madame Mawèkouta ABOU AISSAH, Acting Managing Director of the Fonds Africain de Garantie et de Coopération Economique, signed a guarantee agreement with Madame Reki MOUSSA HASSANE, Managing Director of ASUSU -SA, on July 15, 2016, at the Institution’s headquarters in Cotonou.
Under the terms of the guarantee agreement, worth 3.75 billion CFA francs, FAGACE will enable ASUSU- SA to obtain a loan of 10 billion CFA francs from its financial partners. The loan covered by the guarantee is intended to strengthen the microfinance institution’s capacity to refinance loans granted to its customers.
It should be emphasized that this is the second intervention with ASUSU-SA, with whom relations are running smoothly.
Through this new intervention, FAGACE reiterates its support for low-income populations who do not always have access to credit, and confirms its determination to do more to improve the living conditions of the most disadvantaged African populations.
This endorsement brings the Fund’s total guarantee commitments to 329.743 billion CFA francs, including 12.398 billion CFA francs for Niger.
