Buusaa Gonofaa MFI is a microfinance institution created in 1999 by Hundee (Ethiopian NGO) to run and develop the credit programs of this same NGO.
Mission: Buusaa Gonofaa MFI proposes lasting financial services adapted to rural and poor peri-urban populations, targeting especially women, small peasants and young people with no land.
Main activities: granting of credits and assemble of savings. The credits are mainly turned towards agriculture (65%).
Results: End of December 2015 Buusaa Gonofaa had:
- 82 000 clients
- 2 million € of ongoing credits
- 5 million € of collected savings
- 75% of women among their clients
In 2008, BG received the European prize of microfinance thanks to the creation of a tool measuring its social performance.
SOS Faim and Buusaa Gonofaa MFI: The partnership between these two NGOs started in 2003. Initially, the support of SOS Faim targeted the institutional strengthening of Buusaa Gonofaa MFI and the building of it’s financial capacity. Later, SOS Faim enforced the quality of the service and the professionalization of the team.
The next phase of the partnership between SOS Faim and Buusaa Gonofaa MFI should enable the MFI to spread by developing proximity service points in remote rural areas. SOS Faim will also help the enforcement of Buusaaa Gonofaa regarding agricultural credits.