MICROCAPITAL BRIEF: Microfinance lender KixiCrédito will boost electronic services in Angola with the support of IFC
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced a partnership with KixiCrédito, an Angolan microcredit company, to strengthen the “provision of digital financial services to individuals and micro, small and medium enterprises” of KixiCrédito (MPME) across the country. The package includes review the microlender’s current offerings, procedures, and capabilities as well as its operating environment through market research, identification of potential partners, and analysis of the country’s regulatory landscape.
KixiCredito began operating in the 1990s with funding from the UK and US governments. In 2006, it transformed from an NGO project into a microfinance institution. In 2008, KixiCrédito received an operating license from the Banco Nacional de Angola. The microlender’s services include loans for salaried workers, farmers and non-farm business owners, often with tenors of 12 months to 18 months and amounts starting at AOA 200,000 (USD 450).
Founded in 1956, IFC provides loans, equity investments, advisory services and technical assistance to private enterprises with the goal of reducing poverty and promoting open and competitive markets in developing countries. In the 12 months ending June 2021, IFC reported disbursements of $31 billion, of which about a third was mobilized from partner institutions.
By Hasnat Aslam, Research Associate
Sources and additional resources
Direct contact with KixiCredito
IFC press release
Description of KixiCredito
Profile of the development workshop on KixiCredito
Previous article by MicroCapital on IFC
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