YIKRI : Social microfinance in Burkina Faso
83%of the micro-entrepreneurs given support are women
23 782entrepreneurs with access to savings in 2019
93employees in 2019
Accessing education, employment, banking, social services, water and electricity is very difficult in rural areas and in the outlying districts of Ouagadougou, where population growth is exponential. Women and young people are the first to suffer from extreme poverty. Entrepreneurship is of vital importance to them. They can launch businesses almost overnight: reselling, running small restaurants, raising animals or making clothes. But they need support to develop their businesses and make them sustainable.
A microfinance model for the very poor
To help entrepreneurs like these, living with extreme poverty and/or facing exclusion, with very little access to traditional microfinance services, Entrepreneurs du Monde set up YIKRI, a social microfinance institution, in 2015. The team offers tailored services such as training, savings, microcredit and social support, helping micro-entrepreneurs achieve success and make lasting improvements to their living conditions.
YIKRI : méthodology
The entrepreneurs form groups and can then access individual savings accounts and customised unsecured loans, without the need for a guarantee. Once or twice a month, the groups meet for training related to business (accounting, sales, stock management, etc.) or family life (disease prevention, domestic violence, civil rights, etc.). Then, a social worker at each branch helps those in difficulty by listening, offering advice and referring them to resource partners.
Support by Entrepreneurs du Monde
As with all of the programmes it sets up and incubates, Entrepreneurs du Monde will support YIKRI until it achieves autonomy in all areas. By the end of 2019, YIKRI had already achieved 75% operational viability, having enjoyed strong growth over the 5 years it has been operating – growth that brought with it significant funding needs. Entrepreneurs du Monde is still supporting the new local social microfinance institution to help it achieve its social and economic objectives.
Read the complete fact sheet
Partners of YIKRI