GCA lends USD 580,000 to BIMAS Kenya

The Grameen Credit Agricole (GCA) Foundation has reportedly loaned the local-currency equivalent of USD 580,000 to microfinance institution Business Initiatives and Management Assistance Services (BIMAS), which is based in Kenya. BIMAs, which is based in the city of Embu, was founded in 1997 to offer microinsurance as well as group and individual loans in the following areas; farming, dairy production, education, solar power and asset finance. As of 2017, it has 37,000 customers and a loan portfolio of USD 6.94mn, of which 75% is placed in rural areas.

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