Cofina Senegal SA

Africa

Region

59.1

Investment (MNOK)

Exit

Status

Cofina Senegal is a microfinance institution focusing on meso finance, meaning the missing middle of SMEs that are too large for traditional micro lending, but still too small or informal to source funding from banks. The loan from Norfund will promote access to financial services for entrepreneurs and MSMEs in Senegal. The loan will support the ambition of Cofina Senegal to better target the retail segment and mass market in Senegal.

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Key information

Sector:
Financial Inclusion
Investment (MNOK):
59.1
Year:
2021
Region:
Africa
Country:
Senegal
Domicile:
Senegal
Instrument:
Loans
Status:
Exit
Mandate:
Development

Additionality for Cofina Senegal SA

This investment is particularly additional on the following ambitions:

  • Investing in the poorest countries
  • Investing in the most capital constrained markets
  • Investing in the riskiest markets
  • Investing in the most difficult business environments
  • Investing in high risk instruments
  • Supporting enterprise improvements