Free Email Updates
-
Recent Contributors
Drew Meyers is a travel addict and founder of Horizon. Social entrepreneurship & microfinance advocate.
Hi, I'm a finance blogger who is interested in how different financial tools, including microfinance, can deliver real value to consumers.
Kiva Small Business Advisor for the Greater Seattle area. Reach me at raheem.kiva@gmail.com
Currently a Master of Public Administration (MPA) student at Bowling Green State. University in Bowling Green, Ohio, USA. Specializing in International Development with focus on sub-Saharan Africa.
I work in Advertising Operations at Zillow, but LOVE microfinance. I'm always interested in startups, especially non-profits, reach out to me if you're working on anything cool!
-
Recent Comments
Categories
Admin

Women in Burkina Faso Use Self-Initiated Microfinance
Published By Katherine Rodota on November 26, 2012
Who said you need a financial institution for microfinance? These ladies certainly don’t! About 160 kilometers outside the capital of the African nation Burkina Faso, a group of women have come together to form their own microcredit system. They raised the capital, and then spread it out to their members like a microfinance institution would do. The capital comes from and is returned to the actual beneficiaries of microfinance. The women started collecting and processing shea nuts, an industry left specifically to women in Burkina Faso. As their microfinance system expanded, some women diversified into different lines of business, such as soap and firewood. There are forty-eight total members of the all women association, who each pay about sixty cents a month. The association accumulates these monthly payments and the interest paid on loans, and in turn finances other projects. The women credit trust and good relationships with each other as the backbone of their organization. This organization is a great example of truly grassroots microfinance. Great job ladies!
Click here to read the full article.