Replicating the Grameen Bank in Burkina Faso
Although the Grameen Bank model has been replicated all over the world, little has been published on its success in Africa. This article describes Credit with Education, a modified Grameen Bank model implemented in Burkina Faso by Freedom from Hunger. Of particular interest is the institutional set-up, where the Credit with Education programme has fitted in to a pre-existing system of credit unions (caisses populaires) and smaller village banks (caisses villageoises), which have supplied the funds to the groups of women borrowers. Another factor contributing to the success of the programme and its high repayment rate is the previous involvement of a large number of the women in traditional rotating savings and credit associations (ROSCAs or tontines).