YIKRI : Social microfinance in Burkina Faso
6 branches in 2017
11 809 beneficiaries in 2017
312 training sessions per month
A social Microfinance institution serving the most vulnerable in Burkina Faso
The need for social microfinance is especially pressing in rural and outlying areas. Those are experiencing a demographic explosion as a result of the rural exodus, and living conditions there are very precarious. In these overpopulated outlying areas and in isolated rural areas there are many people starting and developing income generating activities who need access to microloans. But few microfinance institutions will offer them help because the isolation, precariousness and vulnerability of such microentrepreneurs create costs and risks that the institutions don’t want to take. The few MFIs that do exist demand guarantees that the most vulnerable cannot offer.
YIKRI or “Emergence” in the local language (mooré)
For these poor and/or excluded microentrepreneurs, in 2015 Entrepreneurs du Monde created YIKRI (Emergence, in the local language). This programme, which in April 2016 became a microfinance institution under local law, offers them microloans, savings and training to help them develop an income generating activity and improve their living conditions.
YIKRI operates in neighbourhoods and villages with no infrastructure, such as the very poor outlying areas of Ouagadougou. The population there is growing dramatically, while access to basic social services is very difficult. YIKRI also acts in rural areas, where microfinance services are rare and inaccessible. Entrepreneurs du Monde provides YIKRI with technical and financial support, and guarantees its social mission is adhered to.
Read the complete YIKRI’s fact sheet
Partnerships with local associations
In its first year, YIKRI received support from the Agence Française de Développement, the L’Occitane Foundation, the Lord Michelham of Hellingly Foundation and the Fondation FAET. The first two of these have recently renewed their support for another three years. The Don
Boule de Neige association, which has joined the partners since, expressed great satisfaction during its last field visit and renewed its support. In 2017, YIKRI was also funded by three family foundations: the Fondation Iris, the Fondation Pro Femmes and the Fondation Avenir Solidaire. YIKRI’s loan capital funding is supported by the Whole Planet Foundation and SAS Microfinance Solidaire. YIKRI is generating a great deal of interest and is developing rapidly and sustainably. To fund this strong development, they are seeking new partners.