FINCA helps Malians living in poverty access basic services to improve the quality of life for themselves and their families.
1 FINCA VENTURES INVESTEES
Agriculture INDUSTRY SUPPORTED
With an agricultural, microfinance loan from FINCA, Ciriaca Pérez de Izaguirre was able to prevent disease in her livestock and build her farming business again.
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.
41.1% LIVING BELOW POVERTY LEVEL 2
$2,214 ANNUAL PER CAPITA INCOME 3
81.8% FINANCIALLY EXCLUDED 4
1201 15th St NW
Washington, DC 20005
+1 (202) 682-1510
1Information is updated on an annual basis
2Poverty headcount ratio at national poverty lines (% of population)
3GDP per capita, PPP (current international $)
4Adult population lacking account at a formal financial institution