Support 90 micro-entrepreneurs in Sierra Leone

In January 2024, the Munafa program in Sierra Leone opened its first branch in a rural area, marking an important milestone after two branches in semi-rural areas. This initiative is designed to provide greater support to farmers, which in turn should encourage the success of agricultural credit. 

Munafa offers agricultural credit without the need for any collateral, be it a joint surety, a moral guarantor or a material guarantee. This credit is designed to meet working capital needs such as the purchase of seeds, labor and animal feed. It is flexible and adapts to production periods, including the necessary processing and storage phases. 

Following the needs expressed by communities around Waterloo, located 42 kilometers from Freetown, and the region's strong potential, Munafa opened a second branch in this semi-rural area in March 2023, Munafa's fifth branch. At the end of 2023, this branch had 1,079 borrowers and a loan option product (GOP) of €68,000. Expansion in Waterloo has enabled more farmers to access agricultural loans. It should be noted that agricultural loans represent less than 6% of total loans disbursed by all institutions in Sierra Leone.

Munafa has therefore decided to open a sixth branch in the rural Moyamba district. This isolated region, which is heavily dependent on agriculture, has significant social microfinance needs. 

Following a study of the local agricultural sector, Munafa plans to improve its loan offer to better meet the needs of producers and the specificities of their activity. In addition, the recruitment of its first agri-worker will enable program beneficiaries to receive specific advice and training, thereby strengthening the support offered to farmers.