Oikocredit renews support to Leasafric Ghana with funding of GHS 10 million
Press releases
Oikocredit’s new term loan will boost Leasafric’s work with farmers in northern Ghana and its support for ride-hailing enterprise partners.
Amersfoort, the Netherlands – Worldwide cooperative and social impact investor has extended a GHS 10 million (approx. € 0.7 million) loan to Leasafric Ghana, a premier non-bank financial institution, to increase its farmer financing and to procure additional vehicles for small and medium ride-hailing partner enterprises.
This new credit facility aligns with Oikocredit’s mission of empowering people living on low incomes to improve their livelihoods. Leasafric will use part of the loan to develop an agri-leasing product providing agricultural equipment to smallholder farmers in northern Ghana, enabling them to raise their productivity and incomes. This follows capacity building, supported by Oikocredit, that helped Leasafric diversify into the agriculture sector.
An Oikocredit partner since 2009, Leasafric will invest the balance of the loan in its vehicle leasing business. Its small and medium enterprise partners in the transportation sector will benefit by developing their ride hailing businesses, thereby enabling an increase in the employment of young adults.
About Leasafric
Leasafric Ghana is a leasing and logistics company that provides turnkey vehicle and asset and finance leasing services to small and medium enterprise partners, corporate institutions and smallholder farmers in Ghana. Leasafric, a subsidiary of C&I Leasing Plc in Nigeria, the largest leasing firm in West Africa, has a fleet of several hundred vehicles under its lease and car rentals business and also offers services such as fleet management, fleet tracking and staff bussing.
Founded in the 1990s with its head office in Accra, Leasafric is regulated by the Bank of Ghana.
For more information visit leasafric.com.gh.
About Oikocredit
Social impact investor and worldwide cooperative Oikocredit has nearly five decades of experience funding organisations active in financial inclusion, agriculture and renewable energy.
Oikocredit’s loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably.
Oikocredit finances more than 500 partners, with total development financing capital outstanding of € 1,037.2 million (at September 2023).
For more information, visit www.oikocredit.coop.
