FiiNCO AFRICA GROUP

Promoting Social Enterprise projects
for community development

FiiNCO MICRO FINANCE PROJECT

SUPPORT PROGRAM TO STRENGHTEN THE ECONOMIC RESILIENCE OF WOMEN TRADERS

FIVE (5) WEEKS PROGRAM

FiiNCO microfinance program allows women traders to master the management of money for their small business.


FiiNCO Microfinance is available to the minimum of thirty (30) traders of Women Solidarity Groups;


Our program has a five (5) weeks cycle to provide micro credit for the 1st selected women beneficiaries within the Women Solidarity Group.


We offer:


- Two (2) weeks of intensive participatory training;


- Two (2) weeks to evaluate applicant activity;


- The fifth week is intended to provide credits to the 1st selected women beneficiaries within the Women Solidarity Group.


  • Group credit is available, but individual will have their credit allocated according to the evaluation report;

Credit beneficiaries of the Women Solidarity Group will be divided into two. The first beneficiaries will have access to their credit. The second beneficiaries will have their micro credit when the first continue to meet their repayment deadlines.

THE CURRENT SITUATION

Our support program is intended to strengthen the entrepreneurial capacity of women traders in Mali.


 The growing number of victims in the microenterprise sector is obviously alarming and calls for urgent and practical intervention. 


The fact that these small traders lack entrepreneurial skills exposes them to all commercial pitfalls. This situation has brought about their exclusion or restricted access to bank loans.

These situations have consequently contributed to the perpetuation of difficulties amongst the small business persons requiring small loans.


It is from these findings that the FiiNCO Africa Group planned a project for capacity strengthening and financial support for small businesses in order to increase their competence and creditworthiness before the local financial institutions.

Our capacity strengthening program provides skills in entrepreneurial training, marketing, basic accounting and time management. Our evaluation services provide economic, technical and financial reports on micro projects undertaken by the traders.

We introduce Solidarity Groups of our program to the local partner banks to open business accounts.  Funds of FiiNCO Africa Group will provide initial credits to the newly opened accounts of the trading women within an intended period.

We monitor their activities and present progress reports of their financial activities to bank officials whenever a trader should request for a loan. The bank loan will switch them away from our micro credit therefore making available our credit to other traders on our program.

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