CRIF has recently won the international tender organized by MCA-Benin (Benin Millennium Challenge Account) to establish a credit reporting system in Benin.
The MCA-Benin program deals with a series of strategic investments to improve key infrastructure in the country and increase activities and investments in the private sector. MCA-Benin is a body created by the Benin Government to manage the investments of the Millennium Challenge Corporation (MCC), an independent international aid agency created by the U.S. Congress in 2004.
A credit bureau, known as the Centrale d’Echange d’informations, already operates in Benin, dealing only with microcredit information of a negative nature, and which is only accessible by microfinance institutions. A study by MCA-Benin showed that this solution, being limited only to microcredit, was insufficient to reduce the risk of customer insolvency, and therefore decided to launch an international tender aimed at creating a credit reporting system containing both positive data (i.e. regarding customers who regularly repay their loans) and negative data, and which would be extended to include the different types of operators in the lending market.
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