MicroStart

Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.

Status update - May, 2024

MicroStart has transitioned its legal status from an association to an LLC, and their name has thus changed from Micro Start/AFD to MicroStart. This transition is in light of the West African Economic & Monetary Union's anticipated new policy that will eventually require microfinance institutions to transition to LLCs.

Partner Description

MicroStart is a microfinance institution based in Ouagadougou, Burkina Faso. It was founded by eight Burkinabe women, each of them experienced in microcredit or entrepreneurship. Eager to use their experience and commitment to help poor women entrepreneurs, the group founded MicroStart using their own capital, and started providing microcredit services to women entrepreneurs in 2000. Members of this original team continue to manage the organization’s day-to-day activities and drive it forward under the institution’s core values of solidarity, transparency, social justice, equality, and Christian faith.

MicroStart’s principal objective is to become a professional microfinance institution offering financial services, advice, and trainings in order to:

•   Create or reinforce the income-generating activities of Burkinabe women

•   Collect obligatory and voluntary savings in order to foster clients’ financial independence

•   Create or improve solidarity among solidarity group members

•   Provide women with access to necessary materials and equipment for their businesses

•   Build women entrepreneurs’ skills in management, business administration, etc.

•   Create jobs

•   Improve the living conditions of its clients’ communities

MicroStart currently offers the following products to its clients:

•   Solidarity group loans: MicroStart’s leading loan product. Provided to self-selected groups of 2-10 women entrepreneurs. Starting loan amount is approximately $50.

•   Individual loans: Provided to female and male clients with larger capacities, many of whom have “graduated” from solidarity groups.

•   Motorbike loans: Provided to women and men who would like to purchase motorbikes. These motorbikes are important tools for entrepreneurs who must transport products to and from markets for sale.

•   Bicycle loans: Provided to women and men who would like to purchase bicycles.

•   Gas stove loans: Provided to clients who would like to purchase gas stoves in order to stop cooking with wood and charcoal (which is harmful to the environment).

•   Obligatory and voluntary savings accounts

Through its network of 5 branch offices, MicroStart serves the areas of Ouagadougou, Koupéla, Zorgho, Mogtédo, and Boulsa. True to its original purpose of serving poor women, MicroStart serves a 92% female client base with a continually evolving selection of appropriate, high-quality financial products and services.