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Vision Fund Senegal was created in 2002 as part of World Vision International’s microfinance activities, then became a fully-fledged MFI in 2016 after obtaining its licence to grant loans. The institution’s purpose is to help improve the living conditions of disadvantaged children in rural areas by helping women microentrepreneurs (their mothers) to develop their income-generating activities.
At the end of 2024, the MFI had a portfolio of €14 million. Of the 67,500 active borrowers, 93% are women and 68% live in rural areas.
Senegal is a low-income country facing numerous development challenges. It ranks 169th out of 193 countries on the Human Development Index (HDI), with an HDI of 0.517. Microfinance institutions play a vital role in financing the informal economy, strengthening financial inclusion and increasing the penetration of the microfinance sector, which stood at only 21.2% at the end of 2021.
Vision Fund Senegal promotes and implements highly social microfinance. It targets some of the most vulnerable populations eligible for credit (women, rural areas, small amounts), outside the areas of operation of most Senegalese MFIs, and offers tailored products and services (proximity, no collateral, flexible repayment terms). In terms of targeting, it is one of the MFIs most aligned with SIDI’s mission objectives.
