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A Unique Social Microfinance Model in Burkina Faso

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A Unique Social Microfinance Model in Burkina Faso SOCIAL MICROFINANCE A unique social microfinance model in Burkina Faso BACKGROUND MISSION France BURKINA FASO ■ 19.2 millionMyanmar inhabitants rd Vietnam Haiti ■ 183 out of 189Philippines countries* Senegal Burkina Faso ■ 38% unemployment rate Guinea To g o Sierra Leone Cambodia Ghana ■ 44% of the population living on less than €2 a day *Human Development Index Source: hdr.undp.org Villages and outlying districts with A microfinance model for the very no infrastructure poor Accessing education, employment, To help entrepreneurs like these, Pabré banking, social services, water and living with extreme poverty and/or OUAGADOUGOU electricity is very difficult in rural facing exclusion, with very little access Tanghin - Dassouri areas and in the outlying districts of to traditional microfinance services, Dano Ouagadougou, where population growth Entrepreneurs du Monde set up YIKRI, Diébougou is exponential. Women and young people a social microfinance institution, in 2015. are the first to suffer from extreme The team offers tailored services such as poverty. Entrepreneurship is of vital training, savings, microcredit and social importance to them. They can launch support, helping micro-entrepreneurs businesses almost overnight: reselling, achieve success and make lasting impro- MILLENNIUM GOALS running small restaurants, raising vements to their living conditions. animals or making clothes. But they need support to develop their businesses and make them sustainable. METHODOLOGY SUPPORT Mariam ZONGO a successful poultry farmer A complete support package Supported growth The entrepreneurs form groups and can As with all of the programmes it sets up then access individual savings accounts and incubates, Entrepreneurs du Monde and customised unsecured loans, will support YIKRI until it achieves without the need for a guarantee. Once autonomy in all areas. By the end of or twice a month, the groups meet for 2019, YIKRI had already achieved 75% training related to business (accounting, operational viability, having enjoyed “I’m on my seventh loan: the first was for sales, stock management, etc.) or family strong growth over the 5 years it has CFA 150,000 (€230) and the current one is for life (disease prevention, domestic been operating - growth that brought 1.5 million CFA (€2,300), because I manage my loans well and am expanding my business: violence, civil rights, etc.). Then, a social with it significant funding needs. I now have a thousand birds! I created jobs for worker at each branch helps those in Entrepreneurs du Monde is still myself, my husband and two other people in my difficulty by listening, offering advice and supporting the new local MFI* to help neighbourhood. The financial support and training referring them to resource partners. it achieve its social and economic from YIKRI have given my business a real boost objectives. and transformed my family’s daily life!” *MFI: Social microfinance institution KEY FIGURES 1 over 1 year Entrepreneurs Micro-entrepreneurs Loans Average Outstanding Accumulated Operationally No. of 1 2 2 2 2 2 on 31/12 with access to who received at least granted loan loans savings sustainable employees 83% savings one loan in 20191 amount1 OF THE MICRO-ENTREPRENEURS 2018 19,170 13,212 18,629 € 218 M€ 1.8 K€ 529 62% 69 2019 23,782 15,476 21,790 € 245 M€ 5.4 K€ 748 75% 93 GIVEN SUPPORT ARE WOMEN Objectives 2020 27,000 18,000 25,000 € 275 M€ 6.9 M€ 1 85% 104 HIGHLIGHTS ZOOM idea how I’d get by. Thanks to the YIKRI SOCIAL MICROFINANCE SUPPORTING project, I joined a group, received advice SUSTAINABLE AGRICULTURE and support from a social worker, took part in training sessions and got a loan to Proximity help me back into work. I now have more In July 2019, than 400 chickens and thanks to my YIKRI opened business I can support my family. It’s given a branch in me back my self-esteem and my dignity. the Dano YIKRI gave me back my life!” region in the Setting up a mutual south-western For the first time, a Burkina Faso microfi- Vision / Mission / Values Workshop province of Ioba. Of the 8 branches YIKRI has nance institution is offering its members In May 2019, the whole team took part opened since 2015, this is the 4th in a rural area. the chance to join a formal mutual in a workshop, exchanging ideas, sharing It gives farmers and agricultural processors the health-care scheme. By 31 December, experiences and getting to grips with means to develop a second business stream to 2184 people had already joined the enterprise culture, its vision, mission and diversify and smooth their income over the mutual. values. This workshop brought together year. For example, Odette Somda in Dano existing staff and new team members to recounts that for 20 years her main income Working with former detainees set forth YIKRI’s vision and strategy. came from making dolo, the local beer, and that The team also decided to work with thanks to the support of YIKRI, she has now former detainees, a particularly vulne- Maintaining portfolio quality started a pig-fattening business. Today, with her rable group. Marc Rouambia is one YIKRI is growing but still holds the 52 improved-breed pigs, she has made more in of them. The father of two is a farmer. highest performing loan portfolio in the last 6 months than she would from a year’s “When I came out of prison I had no Burkina Faso’s microfinance sector. beer-making! OUTLOOK Training Three additional agricultural technology Digital Finance workshop Developing new services advisors were recruited in 2019. They provide During a Digital Finance workshop YIKRI hopes to develop loans using a one-to-one support, financial and social training organised with ADA, the team will be project-centred rather than a purely and technical modules in the form of a field defining a long-term digital transfor- activity-centred approach that takes school. They teach bio-agriculture techniques mation strategy that will mean tasks into account all the borrower’s financial to enrich the soil and prevent erosion, dry soil can be carried out on mobile phones, needs, encourages customer loyalty and conditions and so on. allowing: helps them avoid over-indebtedness with • trainers to enter data about entrepre- other institutions. Agricultural loans neurs and loans; It will also be offering a Toongré loan YIKRI adapted its loan policy for the agricultural • recipients to make loan repayments (‘emergence’ in the national language) to context: bigger loans during the sowing season, and withdraw their savings; entrepreneurs who have significantly post-harvest repayment, etc. • both parties to track loans and savings grown their businesses. By doing so, in real time. YIKRI will address both their needs and PARTNERS the issue of its own viability. Director MORE ABOUT YIKRI’s innovative and comprehensive support > [email protected] > www.entrepreneursdumonde.org is unique in rural parts of Burkina Faso and is Burkina Faso coordinator > YIKRI greatly appreciated. > [email protected] Head of Social Microfinance unit > Testimony CONTACTS ON THE WEB • Edited on 24 April 2020 • > [email protected].
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