According to the bank website, ACI is a young microfinance institution based in Abidjan and providing financial services to micro-and small entrepreneurs. ACI is part of the Advans Group network, which has operations in 9 countries across Africa and Asia. FMO will support ACI by providing a NASIRA portfolio guarantee to cover young, female and Covid-19 affected MSMEs.
The transaction with ACI will allow FMO to deepen and intensify our relationship with the Advans Group and ACI. The NASIRA portfolio guarantee will increase ACI's lending appetite and will facilitate funding to MSMEs affected by Covid-19, as well as support ACI to develop a specific approach and products for women and young entrepreneurs. Our guarantee facility will therefore support the resilience of MSMEs during these difficult Covid-19 times; thereby indirectly contributing to maintaining jobs in a country registering a high level of inequality.
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