Social microfinance to help the most vulnerable people in Burkina Faso

Entrepreneurs du Monde has been supporting several local microfinance institutions since 2008, but was concerned that their offer was inadequate and wasn’t adapted to the needs of the most vulnerable people. The need for social microfinance is especially strong in rural areas and the overpopulated suburbs, where people live in very precarious conditions. Among these people, many young people came to town after the rural exodus. The extreme poverty and vulnerability of the inhabitants stops microfinance operators from working in these areas.

This is the reason why Entrepreneurs du Monde decided to create a microfinance programme which prioritises these zones.

Yikri, “Emergence” in Moore

Yikri was set up in 2014 and offers social microfinance services adapted to those suffering from exclusion or extreme poverty. These services help them to develop revenue-generating activities and make a lasting difference to their living conditions.

Partnerships with local organisations

People joining the programme are referred by the association they are a member of. These groups are made up of people who run the same type of income-generating activity, live in the same neighbourhood and meet frequently. In this way, YIKRI can be sure that group members trust each other and want to work together, which guarantees cohesion and good group dynamics.

Progress in Ouagadougou

In 2015, more than 100 groups of beneficiaries were trained but needs remain high. The team will therefore be reinforced in 2016 and a 3rd service point will be opened.