Roseline Osarenkhoe

Thank you for your loan. It has been disbursed to Roseline Osarenkhoe by Lift Above Poverty Organization (LAPO) in Nigeria. We are excited to watch this business grow. Over the next 8 - 12 months, Lift Above Poverty Organization (LAPO) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Yams are arguably the staple produce in Nigeria, so there is always demand for them. The plethora of yam farmers across the country sell their harvest to local merchants, like Roseline, who then bring the stock to the local market in their village or city, where they’re sold to the locals. Roseline works in Uwelu market, right in the heart of Benin City, the primary city of Edo State, a region of fertile soil and lush forests in the south-central area of the country. Roseline’s store is very simple: she sells maize and yams. While yams are bought and sold year-round, maize is seasonal and only sold in May-August. The strongest business advantage Roseline has is that she has been selling these foodstuffs for several years, and so is popular in her market.

Given her popularity, she used her last Kiva loan to expand her stock of foodstuffs, and increase the prosperity of her business and family. Since using the loan to buy maize and yams in bulk, she has both cut costs and met the demand of larger orders, more so than she ever could before. Years in the business and knowledge of which farmers to buy from also puts her in a good position.

Still, this is meager business, so Roseline barely ekes out a living for her family, making a profit of N800-1,000 per week. That’s a little more than $1 per day! That’s $1 per day that Roseline can contribute to her 11-member family (her husband and her have 9 children). On top of this, as of June 20, 2007, there has been a nation-wide labor strike throughout Nigeria, in response to a government-mandated increase in the price of gasoline, as well as a hike in the national sales tax from 5% to 10%. This strike her hurt her business, but sadly is beyond her control. Business growth is slow but steady for her store, but she is very grateful to her lenders (both Kiva and LAPO) and optimistic about continuing her planned expansion.

Roseline’s business has improved and she thanks to all kiva lenders for their financial support.

Roseline is happy with her last Kiva loan she was able to buy more food stuffs and this has increase her productivity and profitability. She thanks you.