[Link]
org/where-we-work/west-africa/mali/microfinance-mali
The Aga Khan Agency for Microfinance (AKAM) Mali, provides micro loans which have allowed women to improve their
standard of living. Women accounted for 40 percent of borrowers at the end of the year 2010.
AKDN / Lucas Cuervo Moura
Microfinance
Première Agence de Microfinance Mali (PAMF-M) was
established in 2005 in the Mopti region in line with an initiative
by the Malian government to develop the microfinance industry
in the country. Though the country is served by 14 banks, their
network and activities are primarily concentrated in urban areas
and the microfinance sector is used, particularly in rural areas,
by about 1 million clients. There are 126 licensed MFIs in the
country but the sector has been in crisis for the past few years
and several institutions are technically bankrupt or need to be
strengthened. Over this period much of the population has lost
confidence in the sector and the overall operating environment
is challenging, exacerbated by ongoing political and security
crisis.
Mali is a low-income, landlocked country with nearly 18 million inhabitants. Despite government
and international efforts, political conflict and insecurity has plunged more than 40 percent of the
population into poverty. The economy depends heavily on gold mining and agricultural exports,
and is highly vulnerable to drought and fluctuations in global prices of gold and cotton.
[Link]
The Aga Khan Agency for Microfinance (AKAM) Mali, provides micro loans which have allowed
women to improve their standard of living. Women accounted for 40 percent of borrowers at the end
of the year 2010.
AKDN’s activities in Mali date back to 2003. Activities encompass cultural restoration
and social development projects in Bamako, Mopti, Timbuktu and Djenné, as well as
economic development projects that range from investments in water and electricity to
packaging for agricultural products.
PAMF-M operates three branches and two Points of Sale in Mopti, Koro, Sikasso,
Djénné and Sévaré. While nearly half its borrowers are in rural areas, it is diversifying
by expanding to urban areas and offers a wide range of products, including credit and
savings products, tailored to meet the needs of farmers, artisans and traders.
Empowering women is also an objective and currently almost 50 percent of PAMF’s
clients are female. PAMF-M offers also group loans to finance agriculture, small trade,
micro-enterprises and livestock. These group loans have been especially popular in
rural areas, where most credit is used for agricultural production and livestock.
Since 2008, the Aga Khan Foundation (AKF) has been implementing the Mopti
Coordinated Area Development Programme. The programme combines interventions in
health, education, rural development, financial services and civil society strengthening
to improve the quality of life for beneficiaries in the Mopti Region. Through a US
Department of Agriculture-supported project, PAMF-M is coordinating its efforts with
AKF’s rural development programmes to enhance agricultural productivity and the
quality of life of local residents. PAMF offers loans for inventory credit and agricultural
equipment and provides access to savings services.
Based on other granaries projects led by AKAM, PAMF-M has developed and is testing
a Grain Storage product in Mopti. PAMF-M is also preparing to launch mobile banking in
collaboration with a telecoms partner, as part of a move towards providing digital
financial services.