Triple Jump Expands Collaboration with ACEP Burkina Faso
The Agence de Crédit pour l’Entreprise Privée (ACEP) network is one of the microfinance networks specialized in the creation of urban microfinance institutions (MFIs) in Sub-Saharan Africa. The network has successfully created affiliates in Cameroon, Burkina Faso, Madagascar and Niger.
ACEP Burkina Faso (ACEP BF) is a LLC established in late 2012 and headquartered in Ouagadougou, the capital of Burkina Faso. Since its inception, the institution has shown strong growth and became the 2nd largest MFI by portfolio in Burkina Faso by December 2017 (42% CAGR). It now has more than 9,000 customers. ACEP BF offers financing solutions to very small enterprises for operational expenditures or investments (with an average loan size of ~2K EUR). The institution has displayed good portfolio quality and has been sustainably profitable since 2015.
A poor country even by West African standards, Burkina Faso still knows a very high portion of unbanked population. Although there are many MFIs present in Burkina Faso (most are very small), the microfinance market is still developing in Burkina Faso. With a few large MFIs dominating the market, ACEP BF maintains a strong market position. The MFI plans to launch new products in 2018/2018 which will further increase its outreach to rural areas, especially through the integration of mobile money solutions.
ACEP BF is an ONF investee since 2013. In 2018, Triple Jump renewed and increased its exposure with ONF, while further expanding the relationship through an investment with the AMP fund. With a total exposure of 3.5M EUR, out of which a portion is subordinated debt, Triple Jump provides strong support to ACEP BF for its future growth trajectory.