LAPO Microfinance Company SL
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In 2008, the NGO LAPO Nigeria opened the MFI LAPO SL in Sierra Leone. True to the mission of the NGO, the MFI essentially provides micro-loans to women in disadvantaged areas.
100% of the borrowers are women, of which 48% live in rural areas, with an average disbursed loan of EUR 155. The MFI supports a total of 51,157 clients across 24 branches. It is one of the most important MFIs of the country with a coverage of 80% of the national territory. Most outstanding’s are concentrated in the services and trade activity sectors.
The procedures of LAPO SL are characterised by a powerful and motivating system of supervision and withdrawal. The LAPO SL methodology allows a very good control of credit risk and customer relationship.
The organisation also has a team in charge of non-profit activities, whose mission is to lead mandatory awareness training on health, education and gender issues for all client groups at least once a year. It also organises campaigns to raise awareness of the fight against malaria. Sierra Leone is the country with the highest infant mortality rate in the world (18%).
The flagship product of LAPO SL is the group loan to women in disadvantaged areas. It represents 94% of customers and 41% of the total outstanding. The MFI has also developed a range of individual products for micro-premium customers, SMEs and employees.
More information about LAPO: http://www.lapo-sl.org/
