Burkina Faso’s Yikri wins the European Microfinance Award 2023
Yikri, a microfinance institution from Burkina Faso, has been awarded the European Microfinance Award 2023 for its commitment to addressing the challenges of food security and nutrition in the country.
The other two finalists were Fortune Credit from Kenya and Fundación Génesis Empresarial from Guatemala.
Yikri received a 100,000 euros award.
The food challenge
Yikri's support for smallholder farmers is one of its key activities. The institution offers assistance and advice to farmers on environmentally friendly and agro-ecological practices to improve crop yields. They also facilitate connections between farmers, input suppliers, and buyers.
Burkina Faso has high levels of food insecurity, making it crucial to help farmers adapt to a new agricultural model in order to protect vulnerable populations and ensure food security and proper nutrition.
Yikri also directly addresses malnutrition by providing care to affected individuals. Their social worker team identifies families at risk, with a particular focus on the city of Ouagadougou. These families are referred to associations that organize subsidized milk distribution programs.
In just three years, Yikri has made a significant impact, currently assisting almost 40,000 people. Based on the collected data, on average, the number of beneficiaries in extreme poverty is halved, while their monthly income doubles during this three-year period.