As the investment manager of the ASN Microkredietfonds (AMP), Triple Jump facilitated an initial EUR 1 million investment in UNACREP, a local microfinance cooperative in Benin. The financing expands access to financial services for smallholder farmers and entrepreneurs, helping strengthen their resilience to climate-related risks.
Benin is one of the poorer countries in the world, with a quarter of the population living below the poverty line. However, Benin’s economy is moving in the right direction and, according to the World Bank, it has been growing at a steady pace for over ten years. As a result, poverty in the West African country is slowly but surely decreasing.
Industry and trade are the engines behind this growth, but the vast majority of Benin’s population makes a living from agriculture and the processing of agricultural products. This makes the work of UNACREP, a microfinance institution (MFI) that primarily provides loans to smallholder farmers, so important.
A Cooperative with 180,000 Members
UNACREP has more than 180,000 members and has grown into a relatively large player in the local economy over the past decades. Currently, 26,000 clients have an active loan with the cooperative. Businesses and groups of entrepreneurs can borrow up to 30,000 EUR, but the vast majority of clients consist of individual farmers with smaller financing needs.
Together, they account for more than half of the outstanding loans, with an average loan amount of just over 1,000 USD. It may not seem like much, but it makes a huge difference in many lives in the West African country.
A New Country for the ASN Fund
“Benin is a new country for us to be active in,” says Sascha Noé, fund manager of the ASN Microkredietfonds. In 2025, AMP provided a total of 110 million EUR in new loans, distributed across 30 MFIs worldwide. The fund initially provided 1 million EUR to UNACREP (Union Nationale des Caisses Rurales d’Épargne et de Prêt). “From a geographical diversification perspective, it was also good to further expand our presence in Africa.”
Besides trade with neighboring countries Nigeria and Niger, Benin’s economy relies heavily on agriculture, which accounts for 30% of gross domestic product and 70% of employment. Smallholder farmers dominate the sector; on small plots of land, they must keep their heads above water, plagued by soil depletion and a lack of irrigation. Because they lack access to financing, they can hardly improve their situation.
43% of Clients Are Women
In recent years, the government of Benin has been working to strengthen the agricultural sector by offering support to the value chains around soy, palm oil, and cotton. A positive development, in which farmers can better participate if they have the funds to invest in seeds, irrigation, and farming equipment.
UNACREP ‘s rural clients do not only cultivate food, they also process and trade these agricultural products. This is especially true for UNACREP’s female clients, who make up 43% of the total clientele, which is a high figure by African standards.
Diversification Is Important
The investment by the ASN Microkredietfonds contributes to financial inclusion, a more equal position for women, and the farmers’ resilience to climate change.
“Diversification is very important in that regard,” says Noé. “Especially now that the climate and weather extremes increase the risk of crop failures, you don’t want to be dependent on a single crop. UNACREP screens its new clients very strictly on this: if a farmer only grows one crop, there will be no loan.”
