Incofin cvso increases its presence in West Africa
Incofin cvso invests in the NBFI Finance Fidelis in Burkina Faso. In doing so, the fund increases its presence with a third new loan this year in West Africa.
Fidelis is the largest player offering leasing to micro-entrepreneurs at the bottom of the pyramid and managing a portfolio of over 26 million USD. The institution aims to promote economic development in Burkina Faso by encouraging local entrepreneurship. The main mission of Fidelis is to offer loans to small and medium-sized enterprises to reach out a hand to the ‘missing middle’ in Burkina Faso. They focus on offering innovative financial products that better fit their needs and growth ambitions, such as leasing, credits, hire purchases, long-term leases, etc.
Dipama Abdoulaye Pascal has been a customer of Fidelis since 2011. He set up ‘Victoire Auto-Ecole’, a driving school in Burkina Faso. Dipama was still at secondary school when he already dreamed of being a driving instructor. He completed a course at the Chamber of Commerce, and then began to work for one of the biggest driving schools in the country. With the knowledge and experience he had gained, he set up his own business in 2009. He got a loan from Fidelis to buy a plot of land for building an office and training space. In the meantime he has taken out 4 additional loans to expand his business.