Tuesday, August 19, 2014

Mali Market in the Morning

Our August KIVA loan goes to the Djiguiya Group, six friends who live in Bamako Mali. All are married women who live in the traditional polygamous households found in Mali. They are, on average, 38 years old and have four children.

The women all live in Daoudabougou neighbourhood and know one another through their neighbourhood savings groups and their businesses. They sell vegetables, clothing, basic food staples like oil, rice, dried beans and fish.

In order to increase their working capital, the group members have decided to work with Soro Yiriwaso, a partner of Save the Children. This will be their first group loan.

Aïssata (sitting on the far left in the photo) is a successful fruit and vegetable seller at the Ouolofobougou Market. She plans to use her loan to buy two large sacks of onions, a basket of tomatoes and a basket of cabbages from the wholesale market. She will then resell them at the market by the pound at retail prices, mostly to women shopping for ingredients for the day's meals.

Aïssata expects to achieve a monthly average profit equivalent to about $80 USD, which she will use to reinvest in her business and meet some of the needs of her children. She is relying on her partnership with Soro Yiriwaso to achieve her goal of enlarging her business by allowing her to buy a wider range of vegetables at wholesale prices.

This was our 63rd loan and it cost us nothing at all, as we had $33.00 come back as repayments from individuals we have loaned to in recent months. All we needed to do was decide where and to whom we wanted to loan our $25.00. KIVA is a non-profit that allows you to lend as little as $25 to a specific low-income entrepreneur across the globe.

We've made loans to people in 27 different countries. You choose who to lend to — a baker in Afghanistan, a goat herder in Uganda, a farmer in Peru, a carpenter in Mongolia or a woman in Mali who sells vegetables in the local market  — and as they repay their loan, you get your money back. It's a powerful and sustainable way to empower someone right now to lift themselves out of poverty.
Feel free to join us!

No comments: