Microcredits - (Hope Fund Burundi s.a.)

Hope Fund Burundi is a (now independent) microcredit institution set up by NFD.  Unlike many others in the field, it is a Burundian organisation, run by Burundians and mainly funded by Burundians.

In addition to several different types of microcredits. Hope Fund Burundi offers its clients banking facilities for current and savings accounts. It has over 20,000 members and more than 8,000 accounts from all over Burundi and even from eastern D.R.Congo. It has capital of over $0.3m US from 60+ shareholders (corporate and individual).

In 2011 HFB gave 2,522 loans  (worth 51,000 USD) to individuals and groups (of varying sizes up to 100 members). NFD’s own microcredit programme is managed through Hope Fund Burundi. The programme particularly targets poor women especially widows with income-generating projects which will enable them to lift their families out of the cycle of poverty.

The objectives of Hope Fund Burundi are:

• Poverty reduction through loans for income-generating schemes
• Access for the poor to banking facilities
• Encouragement of saving

HFB has already opened an agency in Makamba province and further agencies are planned throughout Burundi.  In addition, in collaboration with several donors, it has steadily increased the number of loans it gives each year.