Copyright: Charlotte FORTUN
In order to support and strengthen the micro enterprises of 30 women in Ouagadougou, Aide et Action accompanies them financially by mobilizing funds. But not only. To empower them, our project encourages women to find their own funding in order to carry out their project. A salutary economic strengthening.
As part of its Training in the Service of Female Leadership (FORSELF) project developed in Burkina Faso, Aide et Action is mobilizing 11,550,000 CFA (nearly 20,000 euros) to support micro enterprises of 30 women in Ouagadougou. For that, a grant award committee was set up. It is made of Arrondissement 10, the Association for the Promotion of Non-Formal Education (APENF), the Provincial Directorate of Women, National Solidarity, Family and Humanitarian Action of Kadiogo, and of the General Directorate of Vocational Training.
Transparency, efficiency and accountability
The primary objective is transparency and efficiency in the allocation of funds to beneficiaries. The project financing mechanism is based on the principle of the participation of women entrepreneurs in the project budget. Indeed, after drawing up their business plans, beneficiaries are required to make an equity contribution of 5 to 10% of the overall budget. The project provides 20 to 45% support and for the remaining amount, the beneficiaries are invited to initiate procedures with the various financing windows at the national level. Furthermore, following the analysis of the various business plans of the beneficiaries, the grant awarding committee urged the beneficiaries to rigorously manage the funds received with a view to the economic and sustainable profitability of the micro enterprises supported.
The mayor of district 10, Jérémie Sawadogo, said on behalf of the district council that: “the act taken by the FORSELF project is a decisive step towards strengthening women’s economic activities and contributes to their full empowerment” .
Moments of joy and satisfaction
Each of the 30 promoters was invited to open a dedicated account in a banking institution and to sign a letter of commitment before the committee. This commits them to make the investment for which the subsidy was granted, to ensure good management, to accept control and in-depth verification visits, not to make loans or donations of any kind and to carry out rigorous follow-up.
For the beneficiaries, these are moments of joy and satisfaction. Sandrine Tlboudo, soap company promoter, says this support will add to what she is already doing on the ground. “This support will help us to buy equipment: cutting table, mixer, stamper… We will be able to produce the soap ourselves and especially in large quantities“. In the same vein, Mamata Compaore, another beneficiary, a vegetable seller, is delighted with this funding which will allow her new ideas to materialize. “The support comes to take the pressure off us and make our dreams come true. I will set up a room for the display of the products”, she said. Finally, Martine Passeba Wango, pastry chef, believes that: “This support will strengthen our activities by enabling us to acquire equipment such as the refrigerator and an oven in order to increase the level of production and above all to offer new recipes to customers” .