FANSOTO : Social microfinance in Senegal
15 097accompanied entrepreneurs
99.8%of beneficiaries are women
48%coming from rural areas
Casamance has been battered by an armed conflict for more than 30 years. A lack of security in villages has resulted in major population movements towards the cities (Ziguinchor and Bignona), to deprived, semi-rural outlying neighbourhoods with little or no infrastructure. Formal employment is extremely rare and people survive by running a small business, a livestock farm, a sewing workshop, etc. But their precarious situation limits their ability to develop and sustain these income-generating activities.
Entrepreneurship : a lever against poverty
For the past five years, FANSOTO has been supporting vulnerable populations in the regions of Ziguinchor and Matam in the development of income generating activities (IGA). It offers them financial services (savings and microcredit) and non-financial services (training, follow-up and social support). Some beneficiaries who have already developed their activity want to structure it better and take the step of becoming a very small enterprise (VSE). To help them in this step, FANSOTO grants them a larger credit, specific trainings and an individualized follow-up.
Méthodology of FANSOTO
The beneficiaries organize themselves in small groups and access a savings account and individual loans, without deposit or guarantee, of an amount adapted to each one. At each meeting with the group, the facilitator provides economic or social training to strengthen their activity and their place in the family and community. Each one also benefits from an individualized accompaniment until they succeed. The most vulnerable (HIV positive or disabled) are referred to specialized government services for additional support.
Support by Entrepreneurs du Monde
From start-up to independence, Entrepreneurs du Monde has supported FANSOTO in 9 key areas: operations management, MIS, social performance, strategic planning, administrative and financial management, governance, HR management, risk management, advocacy & fundraising. FANSOTO is today an association under local law, with a savings and loan license, statutes and internal regulations that govern its organization and functioning. At the end of 2021, Fansoto had an operational viability of 40%.