Microfinance in Mali

In 2005, the Malian government launched an ambitious plan to develop the microfinance industry in the country. In this context, the government addressed a request to His Highness the Aga Khan and AKDN to set up a microfinance institution in regions where these services are not yet sufficiently available. In response to this request, AKAM established The Première Agence de MicroFinance in Mali (PAMF-Mali).

In collaboration with the Historic Cities Support Programme managed by the Aga Khan Trust for Culture, this programme is currently targeting both urban and rural populations in the Mopti region. An extended branch network in Timbuktu and Gao is also planned. Loans are being extended to both groups and individuals to address specific financial needs such as rural credit, financing of service activities, working capital for commercial activities, among others. In due course, PAMF-Mali will also extend savings products as well as loans for housing improvement, education, and health.

AKAM worldwide

AKAM’s microfinance initiatives range from village lending cooperatives to self-standing microfinance institutions to full-fledged microfinance banks. These activities currently operate in Afghanistan, Burkina Faso, Egypt, India, Kazakhstan, Kenya, Kyrgyz Republic, Madagascar, Mali, Mozambique, Pakistan, Syria, Tajikistan, Tanzania, and Zanzibar. Often they are part of wider integrated development strategy being implemented by the AKDN within each country. In addition to providing financial services to the poor, they may include business or technical advisory/training extension services and business development programmes that work directly with local entrepreneurs.