MUNAFA – SOCIAL MICROFINANCE
Freetown, Sierra Leone
DESCRIPTION
SOCIAL MICROFINANCE TO INCREASE RESILIENCE OF MARGINALIZED PEOPLE
This project aims to provide microfinance loans and training to beneficiaries in the slums of Freetown, the capital of Sierra Leone. These beneficiaries mainly derive their living from small informal activities in trade or service, such as the sale of shoes and clothing, drinks, oil, provisions, catering and other income generating activities.
After a first field market study by Entrepreneurs du Monde in April 2018, the programme was registered as a local company, named Munafa, in February 2019 and obtained its credit-only microfinance licence in October 2019. Munafa is engaged in improving in a sustainable manner the resilience and living conditions of marginalized families, by providing financial and socio-economic services tailored to their needs for the development of income generating activities. Munafa uses the individual responsibility group methodology promoted by Entrepreneurs du Monde, which has a strong social component, brings down all the barriers to access loans (no financial or physical guarantees, no joint liability collateral system) and promotes the strengthening of beneficiaries’ skills to develop their income-generating activities. In addition to microloans, Munafa provides socio-economic training and social support.
IMPACT / MAIN INDICATORS
• Number of branches: 7
• Number of savings accounts: 16 753
• Granted loan portfolio: 21 160 loans, totalling €3 526 465 in 2025
• Socio-economic training: financial education, social and health awareness
• Training sessions: 11 064 in 2025
• Training of local teams in social microfinance methodology developed by Entrepreneurs du Monde.
• Operational viability at the end of 2025: 81%
LOCAL
PARTNER
Munafa – Sierra Leone
Selection
Duration
Project selected in September 2020
Multi-year project: 6 years
Financed
by
The Comgest Foundation
COMMENT FROM THE AMBASSADOR
Monique Erbeia
In 2025, MUNAFA took a new step in its development by significantly extending its impact. The opening of a seventh branch in Bo made it possible to reach particularly vulnerable rural populations. The institution assisted almost 19,000 beneficiaries during the year, including almost 17,000 active borrowers, while maintaining a high-quality portfolio despite the difficult economic climate.
MUNAFA also strengthened its operational viability, exceeding 80%, and achieved its objectives of expanding and adapting its services to the needs of rural populations.
The outlook for 2026 is promising: further strengthening of the Moyamba and Bo branches, development of new training and support services for small producers, and application to the Central Bank for a savings licence. A pilot project on clean cooking equipment, in partnership with AVSI, will also be launched in Freetown. MUNAFA is thus continuing its commitment to the financial and social inclusion of the most vulnerable.
I’m very grateful for the support The Comgest Foundation has given Munafa over the last six years, as the microfinance institution works towards becoming self-sufficient.