Microfinance Initiative for Subsahara Africa

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The Microfinance Initiative for Sub-Saharan Africa (MIFSSA) is an investment and technical assistance program designed to achieve an accelerated expansion of sustainable microfinance services for low-income micro-entrepreneurs in Sub-Saharan Africa. The MIFSSA, undertaken in collaboration with and co-funded by KfW, would provide investment and technical assistance resources to enable the set-up of up to seven professionally-managed greenfield microfinance institutions in five Sub-Saharan African countries. To overcome the lack of microfinance management capacity in many African countries, these new institutions will rely on the participation of experienced microfinance operators for their management. This will ensure that the new microfinance institutions are operated under commercial standards to enable and sustain continued expansion of lending activities. It is expected that each microfinance institution created under MIFSSA will serve approximately 8,000 clients within 3 years of creation, with further portfolio growth estimated at around 25% per year.