YIKRI : Social microfinance in Burkina Faso
7 577 beneficiaries
422 group meetings every 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.
Read the complete YIKRI’s fact sheet
Partnerships with local associations
The people entering the programme are registered by the association of which they are members. Those associations are constituted of people carrying out the same type of activities, living in the same neighborhood and gathering frequently. Thus, YIKRI has an insurance of creating groups where members trust each other and want to work together. This is a guarantee of cohesion and group dynamic. This way, a true partnership is created with these pre-existing associations so that the services offered by YIKRI can be perfectly adapted.