Microcred Mali


Microcred Mali is a microfinance institute (MFI) that started operating in Bamako in 2013. Microcred focuses on two segments: microfinance and SMEs. For a newly established institution, it offers a wide range of products and services: current accounts, micro insurance products, loan products, saving products, and money transfers.

In its first year of operation, Microcred reached a loan portfolio of EUR 5.9 million outstanding to over 3,000 borrowers with three branches in Bamako. Microcred aims at reaching a EUR 100 million loan portfolio to 42,000 borrowers and opening a network of 10 branches within the next five years.

The vast majority of Microcred’s clients belong to the informal sector, a group typically excluded from the traditional financial system. Microcred supports these clients not only financially, but also encourages them to formalize their business, which in turn contributes to the country’s tax base.

BIO’s EUR 1.5 million loan will support Microcred’s efforts to further grow its financial services to microenterprises and SMEs and provide the MFI with a more stable and long-term source of financing.

Website : www.microcredgroup.com

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  • Development impacts :

    • 1 — Improve access to financing for local micro and small entrepreneurs
    • 2 — Stimulate economic growth