Support 90 micro-entrepreneurs in Sierra Leone

It has been a productive summer for Munafa! In July, the microfinance institution opened its seventh branch in Bo, the country's second largest city. This move marks a new stage in the strategy of expansion into rural and semi-rural areas, which began with the opening of branches in Waterloo and Moyamba.

This new branch serves the most vulnerable communities in Bo, many of whom depend on subsistence farming. These populations will now have access to new financing solutions and training tailored to their needs.

After two market studies in the field, the entire local team was recruited and trained for the branch to open in early July.

With the support of an operations manager, the facilitators went out to meet local communities to promote the services on offer.

They organised meetings with the first groups created to explain the methodology and rules of the group, ensure that everything was clearly understood and verify that the beneficiaries matched our target audience.

Once this step was completed, they filled out the identification forms with them and visited them at their homes before starting the training sessions.

To date, 18 groups have already been formed, bringing together 390 beneficiaries, 35 of whom have already obtained their first loan, which shows real enthusiasm! All signs point to achieving the target of 500 active borrowers by the end of the year.

The next steps include hiring an agricultural advisor to provide technical support to farmers and operational teams, and continuing with the first loan disbursements.

We will keep you updated on further developments!

Links:

• LinkedIn account for Entrepreneurs du Monde