Fighting Poverty in Mali

Facts about Mali

Mali’s history is peppered with droughts, rebellions, a coup, military dictatorship and, more recently, terrorist activity. Over 80 percent of adults are excluded from the formal financial system and more than 40 percent of Malians live in poverty.

Mali, along with much of sub-Saharan Africa, is on the verge of a crisis. By 2035, the International Monetary Fund estimates the number of Africans joining the working age population will exceed the rest of the world combined. To fill this surge, 18 million new jobs will have to be created each year for the next 20 years across sub-Saharan Africa. In the meantime, Malians rely on the informal sector for a chance to earn a living. In addition, access to basic services, like energy, water and sanitation, education, health care and agriculture, is often inadequate.

When poor people have access to financial services and life-enhancing products, they can earn more, build their assets, create jobs and cushion themselves against external shocks. FINCA is helping Malians improve their lives by supporting access to basic services through FINCA Ventures.