VisionFund Senegal

Context :

The informal sector continues to represent a significant portion of Senegal's GDP. The country is classified as a least developed country (LDC) by the UN, with 501,000 to 300,000 people living below the poverty line. Unemployment affects a significant portion of the population, particularly young people.

The company:

Vision Fund Senegal is a microfinance institution established by World Vision International whose mission is to facilitate access to a conventional financial system for rural and vulnerable populations, access to local financial services, the opportunity to launch or develop income-generating activities and, in general, the possibility of improving their living conditions. Vision Fund Senegal primarily targets women microentrepreneurs, using the group lending methodology.

Impact :

VisionFund Senegal empowers families to create jobs and generate income, and unlocks economic potential for communities to thrive. The products and services offered fall into five broad categories: microcredit, savings programs, microinsurance, training, and education. Benefits include sustainable livelihoods, increased economic well-being, improved community well-being, reduced dependence on external aid, and the restoration of hope and dignity.