The Stern Stewart Institute provides basic banking services to poor people, in particular to women and community groups in Ouahigouya, Burkina Faso. Presently over 300 men and women bring their savings and regular income for deposition to the bank. After a cooperation of several months, the depositors are qualified to receive loans to invest into a concrete business activity.
Microfinance provides the potential to benefit also other activities of The Stern Stewart Institute. Beekeepers within the apicultural organization Wend Puiré, for example, can team up and receive a loan. The funds will be channeled directly to Wend Puiré, who provides trainings and apicultural equipment. Thanks to the loans each group of beekeepers can significantly raise its yield and pay back the borrowed money.
A special aspect is that, in contrast to other active banks and microfinance organizations, The Stern Stewart Institute provides yield adapted payback conditions. Beekeepers produce different types of honey and depend on plants with special seasonal periods. The pay back conditions allow the beekeepers to amortize their loans when they have enough money to do so, i.e. after they have sold their yield.
