Burundi is a country in eastern Africa and has about 10.5 million inhabitants. Due to the tense political situation, the economy has shrunk in recent years. It is one of the world’s poorest countries, as evidenced by its ranking in the human development index. Burundi is ranked 184 out of 188 in the human development index. In 2017 the GDP per capita was 375 USD.
Inadequate access to financial services as well as a lack of education, poorly educated employees and weak institutions are among the challenges in Burundi. For this reason, SBFIC, together with the microfinance association Réseau des Institutions de Microfinance au Burundi (RIM), wants to strengthen the microfinance sector, improve vocational education and foster financial education for broader parts of the population.
SBFIC has been working in Burundi since 2012. With less than one percent of the population having access to bank loans, our structured training-based programs aim to professionalize microfinance institutions and moreover promote broad financial education within the country. Another priority area is the establishment of the RIM microfinance academy, which offers professional vocational training for MFI’s staff.