The Beninese government launched in July 2022, the 2nd phase of the Alafia microcredit. It allows beneficiaries to obtain even for a first request 100,000 FCFA from the Decentralized Financial Systems.
Alafia Microcredit is the result of organizational reforms carried out at the level of the National Microfinance Fund by the government. The objective is to facilitate access to credit for vulnerable people excluded from conventional financing systems. The second phase, launched in July 2022, allows beneficiaries to request and obtain, even for a first request, the sum of 100,000 FCFA from the Decentralized Financial Systems, partners of the National Microfinance Fund. There is also the possibility of obtaining 30,000 FCFA or 50,000 FCFA.
To obtain the Alafia Microcredit, you must be at least 18 years old or 60 years old at most; have an identity document (National Identity Card, LEPI Card, or CIP Personal Identification Certificate); have a money transfer account registered in their name with FNM’s partner GSM operators, namely MTN or Moov Benin. The beneficiary must be a member of a joint surety group of 3 or 5 people; pay the related costs which are 400 FCFA for the file and training costs and 1.2% of the credit amount for the death insurance premium.
The National Microfinance Fund teams completed the first week of phase 2 of the information and awareness tour in several departments of Benin on Friday 9 last. During this tour, Louis Biao, Director General of the National Microfinance Fund invited the population to a good collaboration with the Decentralized Financial Systems (DFS) partners by reimbursing on good dates. The toll-free number 7320 is available for any concerns and additional information.
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14 December 2022 by