The Niger River is an important source of fish for communities like this one in Mopti, Mali, where the surplus fish is smoked, salted and dried to be eaten later. This client of PAMF Mali received a loan so that he could rent a larger space to dry his fish.The Première Agence de Microfinance
AKAM established the Première Agence de Microfinance (PAMF) Burkina Faso and PAMF Mali in 2006 and now serves clients in Burkina Faso through five branches and in Mali through two branches. In 2008 AKAM established PAMF Côte d’Ivoire, which has two branches.
The number of beneficiaries in the three institutions was 18,036 in 2010. The value of outstanding loans was US$ 3.8 million. Women accounted for 40 percent of borrowers at the end of the year. The number of individual savers was 15,894 with a value of US$ 1.3 million in deposits. Currently, PAMF’s activities and branches are overwhelmingly concentrated in rural areas and on rural products.
About 70 percent of loans in the region are disbursed from rural branches. The PAMF microfinance institutions offer credit for agricultural inputs primarily for cereals and horticulture, animal fattening, storage of crops so that they can be sold later in the season, and trading. PAMF also offers a savings account product in all three countries which has no fees or minimum balance requirements to keep the product simple and flexible for clients. Every loan client is offered a free deposit account to encourage clients to save.
In January 2010, PAMF opened its fifth branch in Burkina Faso. The Ouaga-Dapoya Branch is PAMF’s first exclusively urban branch that targets the urban poor, traders and craftsmen. It is the first branch opened in a capital city and it will pilot new products such as small and medium enterprise loans and term deposit accounts.
In 2010 PAMF launched a promotional campaign to encourage more clients to open savings accounts. Clients who opened a new deposit account received a gift. Awareness of PAMF’s products was strengthened through radio broadcasting in markets and in front of the branches.
PAMF in Burkina Faso provides credit for animal fattening, cereals storage, fertiliser and seeds to over 3,000 villagers who also supply agro-processor Faso Coton, a subsidiary of AKFED, with raw cotton. This cooperation is a key example of the synergies that are characteristic of AKDN operations in a number of countries. The concept is to deliver microcredit to cotton farmers, building on the infrastructure of the industrial venture, which will then serve as a cornerstone for serving the broader local population with an array of services extending beyond cotton finance. In 2010, the number of loans disbursed was about 22,813 worth US$ 5.4 million.
In spite of the political situation in the country, PAMF is one of the few microfinance institutions to remain operational in the north, providing reliable services in the rural areas. By the end of the year, PAMF-CI had disbursed over US$ 1.4 million in loans. Outstanding loans were valued at US$ 260,000 distributed among 1,201 beneficiaries, 45 percent of whom were women.
PAMF is currently targeting urban, peri-urban and rural populations in Mopti and Sévaré, and is coordinating its efforts with AKF’s rural development programmes in the area to enhance the impact on the agricultural productivity and quality of life of local residents with the support of a Food for Progress grant from the United States Department of Agriculture. Loans are provided to farmers participating in projects run by AKDN’s agencies to assist them with financial needs that arise prior to receiving harvest revenues. At the end of 2010, PAMF Mali had disbursed 4,644 loans worth close to US$ 1.6 million.
|PAMF WEST AFRICA
|Burkina Faso||Côte d'Ivoire||Mali||Combined|
|Microfinance Loans Disbursed:
Value (US$ '000s)
|Microfinance Loans Disbursed: Number||22,813||5,661||4,644||33,118|
|Microfinance Portfolio Outstanding:
Value (US$ '000s)
|Microfinance Portfolio Outstanding: Number||14,312||1,201||2,523||18,036|
|Average Microfinance Loan Size (US$ unit)||205||216||232||240|
|Percentage of Women Borrowers||40%||45%||40%||40%|
|Portfolio at Risk (%)||0.4%||6.3%||3.4%||0.8%|
|Number of IndividualSavers||10,962||2,139||2,793||15,894|
|Value of IndividualDeposits (US$ ‘000)||1,107||53,000||134,000||1,294|
|Number of Staff||100||22||20||142|
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