Antananarivo Renivohitra, Madagascar - East Africa

The Société d’Investissement pour la Promotion des Entreprises à Madagascar (SIPEM) was created in 1990 but it was in 1997 that the organisation became active in microfinance by granting loans directly to SMEs. In 2010, SIPEM decided to transform into a bank to improve its capacity to offer products and services.

The activities of SIPEM are essentially based on the granting of loans, the collection of deposits, the transfer of money and mobile banking. In 2018, ATMs and interbank payment methods where put in place for their customers.

SIPEM is also part of the Microfinance African Institution Network (MAIN), whose main objective is to contribute to strengthening the economic and social role of institutions working in the field of African microfinance.

Regarding the target population, the institution has an urban focus, even though 47% of its customers live in rural areas, as well as a balanced percentage between men and women. The average disbursed loan is EUR 2,122.


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