WAKILI : Social microfinance in Guinea

WAKILI : Social microfinance in Guinea

90%of women

7 344entrepreneurs

190€average loan amount

*Figures 2021

In Guinea, the poorest, especially women, have had very little schooling. They are poorly qualified and have difficulty accessing salaried and stable employment. So, to earn a living, they start their own business! Overnight, they start a small street business, a workshop or return to work on the land. But without access to capital and training, they find it difficult to develop and sustain their activity. In order for their business to succeed, to break out of survival economy and project themselves into the future, capital and training are vital.

In 2016, Entrepreneurs du Monde created WAKILI, which means “Determination, Perseverance” to support these vulnerable and enterprising women and men, to help them sustainably develop their income-generating activity and improve their families’ well-being. The WAKILI team pays particular attention to people with disabilities or living with HIV.

A unique and social microfinance methodology in Guinea

The team offers financial (credit, savings) and socio-economic (training, individualized support, social referencing, technical agricultural support) services to micro-entrepreneurs. WAKILI is the only social microfinance institution in Guinea to grant loans without joint or personal surety or guarantee, to offer the possibility to open savings accounts without costs and to remunerate these savings.

Thanks to its group methodology with individual responsibility, WAKILI also promotes a circular economy within the villages by linking buyers and producers.

Bénéficiaires Wakili

A resilient and determined team

WAKILI is quickly advancing despite Guinea’s challenging socio-economic and political context. The team has expanded to meet the growing needs of the population.

At the same time, procedures and capacities have been strengthened with the support of Entrepreneurs du Monde. These changes bring a new dynamic to the institution, which is already positively impacting its results and promoting ownership of the program by the stakeholders. In addition, WAKILI has obtained its approval from the regulatory authorities and remains firmly on course towards financial viability.

WAKILI received the Prize for Commitment to Financial Inclusion for the support  it provided to entrepreneurs with disabilities (PSH) as part of a UNDP project. The prize was awarded by the Inclusive Finance Consultation Framework in collaboration with the Private Investment Promotion Agency (APIP).

Débé Koevogui
A range of products in a real shop

“I am a widow and I have two children. After a few months of training in the management of an income-generating activity., I obtained a first loan of 1 200 000 Guinean francs (118€), and then a second loan of double that amount. It really helped me to develop my business and today I offer a  range of second-hand tableware, in a real shop. WAKILI has always been by my side, especially during the difficult period of COVID 19 when I benefited from personalized advice and loans. Thanks to the training, I diversified my activities by selling cookies and I manage my business better. I cover the expenses of my family and my success makes me respected in the neighborhood. It encourages other women to start a business like me! »

>> More testimonials at the bottom of this page.

Débé bénéficiaire Wakili

Wakili’s partners

AFD logo

Fonds Sustineo

Social performance Task Force

Fondation Lord Michelham of Hellingly

Logo Whole Planet Foundation

Logo Fondation Entrepreneurs du Monde

Microfinance solidaire, logo

Fondation Pro-Femmes