MFN, Mutuelle d'Epargne et de Crédit Fadec Njambour

Supporting a cooperative with strong rural outreach

Senegal

Mutuelle d'Epargne et de Crédit Fadec Njambour (MFN) is a regulated savings and credit cooperative serving individuals, groups, and micro, small and medium businesses (MSMEs) in Louga, one of Senegal’s rural regions.  It has six agencies and one service point located in the departments of Kébémer and Louga.

In 2015, MFN had almost 6,000 members, mostly farmers, breeders, teachers and traders. More than half of its members are women.

MFN is facing competition from other microfinance institutions in the area, but it enjoys strong support from local communities. Its agencies are, in fact, located in remote areas close to customers.

MFN has been an Oikocredit partner for several years and has taken out and repaid a number of loans to diversify and expand its product portfolio. In 2014, MFN won Oikocredit's annual 'Project Partner Award'.

Mutuelle d'Epargne et de Crédit Fadec Njambour (MFN) has been an Oikocredit partner since 2007.