The Première Agence de Microfinance (PAMF) Burkina Faso provides credit for animal fattening, cereals storage, fertiliser and seeds to over 3,000 villagers.
AKDN / Lucas Cuervo Moura
The Première Agence de Microfinance (PAMF) Burkina Faso provides credit for animal fattening, cereals …
AKDN / Lucas Cuervo Moura
The Première Agence de Microfinance Burkina Faso is a part of the Aga Khan Agency for Microfinance (AKAM). The underlying objectives of AKAM are to reduce poverty, diminish the vulnerability of the poor and alleviate economic and social exclusion. AKAM’s ultimate aim is to improve the quality of life by helping people raise incomes, become self-reliant and gain the skills needed to graduate into the mainstream financial markets.
AKDN / Lucas Cuervo Moura
The Première Agence de Microfinance Burkina Faso is a part of the Aga Khan Agency for Microfinance (AKAM). …
AKDN / Lucas Cuervo Moura
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Première Agence de Microfinance Burkina Faso (PAMF-B) was established in 2006. It aims to reduce poverty, diminish the vulnerability of the poor, and alleviate economic and social exclusion.
26%
26 percent of PAMF-B’s customers are women
Microfinance in Burkina Faso
Burkina Faso is a low-income, landlocked country of 24 million people. The economy depends heavily on agriculture, forestry and livestock farming, accounting for about a third of economic output and employing more than 80 percent of the workforce.
There are more than a dozen mid-sized microfinance institutions, as well as a large number of smaller institutions. The sector is overseen by government regulation and supervised at the regional level by the West African Union’s Central Bank.
PAMF-B
Set up by the Aga Khan Agency for Microfinance, PAMF-B is one of the top three mid-sized players in the microfinance sector in terms of number of clients, loan values, disbursements and savings portfolio. While 87 percent of its clients are in rural areas and use livestock and agricultural loans, PAMF-B has opened branches in urban areas to serve trade and small enterprises in order to balance its portfolio and expand its range of clients. About 26 percent of borrowers and depositors are women.
PAMF-B has traditionally been strong in the agriculture sector. The group loan product helps rural clients pay for input materials and proposes adapted repayment conditions at the end of the harvest or sales. This facility is used repeatedly by clients and has created a loyal customer base. The system works based on a social rather than financial guarantee, with each individual co-responsible for the loan.
PAMF-B's financial services help small farmers in rural areas with agriculture-specific products, focusing on rice, cassava, maize and livestock. It is part of a group selected by the government to participate in a national programme to boost the agriculture sector.