Madam Group


Status: Paid Back

$4,975.00   Loan Request
$4,975.00   Paid Back

About the Group

Group Name: Madam Group
Group Members: Mohamed Conteh
Camillo Kamara
Umaro Kamara
Hassan Sesay
Ibrahim Kamie
Michael Turay
Johnny Kierbia
Alimamy Kargbo
John Koroma
Ibrahim Conteh
Kiekura Kolokah
John Koroma
John S. Koroma
Location: Makeni, Sierra Leone
Activity: Personal Purchases

About the Loan

Loan Amount: $4,975.00
Loan Use: To build a home
Repayment Term: 5 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Nov 23, 2008
Date Disbursed: Oct 20, 2008
Date Funded:Dec 6, 2008
Loan Ended:Apr 17, 2009

About the Country

Country:Sierra Leone
Avg Annual Income:$903.00
Currency:Sierra Leone Leones (SLL)
Exchange Rate:3,003.0000 SLL = 1 USD



This is the MADAM Group. All 15 members of the group are employees of MADAM. MADAM, an acronym for Mankindu's Activities for Development Accreditation Movement, is a non-governmental organization based in Makeni that promotes four major themes: (1) agriculture and food security; (2) education; (3) employment generation; and (4) skills training. MADAM recently participated in the 2008 World Food Day event in Sierra Leone alongside President Ernest Bai Koroma. Together, they are requesting a loan for 14,900,000 LE.


The leader of the MADAM Group is Mohamed Conteh (back row, third from left). Mohamed is 41 years of age, married, with three children who all attend primary school. Mohammedu's wife is a businesswoman. Mohamed intends to use his portion of the SMT loan to continue building his new home. Currently, Mohamed and his family rent an apartment. Completion of the new home will save Mohamed 1,500,000 LE per year in lost rental fees and will allow him to build equity in the home. The new home will also give his children better security and more freedom. Lastly, Mohamed hopes his first home is a starting point for investing in other forms of real estate.



About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more


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Lenders to this group

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Journal entries for Madam Group


Loan has been disbursed
 
Entrepreneur: Madam Group
Location: Makeni, Sierra Leone

Thank you for your loan. It has been disbursed to the Mohamed Conteh group, consisting of Mohamed Conteh, Camillo Kamara, Umaro Kamara, Hassan Sesay, Ibrahim Kamie, Michael Turay, Johnny Kierbia, Alimamy Kargbo, John Koroma, Ibrahim Conteh, Kiekura Kolokah, John Koroma, John S. Koroma by Salone Microfinance Trust (SMT), a partner of Christian Children's Fund in Sierra Leone. We are excited to watch this business grow. Over the next 2 months, Salone Microfinance Trust (SMT), a partner of Christian Children's Fund will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Makeni, Sierra Leone
Dec 7, 2008
Comments (1)

A Journal Update for Madam Group
 
Entrepreneur: Madam Group
Location: Makeni, Sierra Leone

Hello Lenders of MADAM Group,

I made several visits to MADAM in order to have a talk with the Director (Leader of this group) about his Kiva loan, but he was either out of the town or busy with guests. Alternatively, I decided to talk with John S. Koroma the Program’s Officer.

John received a loan of Le 2,000,000 from you. With this loan, he bought house building materials – fifty bags of cements, sand, iron robs, five bundles of corrugated iron zincs, boards and paid workmanship. With your loan’s help, John has almost completed building his house. He now has only to paint the outside of the house. He expects occupying his new home come April of this year, he told me.

This house consists of three bed rooms, one parlor, a toilet, a store and a dinning room. Without the help of your loan, it will have taken donkey’s years for Mr. John to be able to complete building his house. Since salaries are very small and there are other financial commitments to meet, he should have found it very hard or even impossible to use such a meager salary in building his house. But with the loan, he was able to do so with ease.

John, on behalf of MADAM asked me to convey his appreciation and gratitude to you for the loan given to them. Talking as a program’s officer, he will like to see you extending your support to grass-root people in the remote villages of Sierra Leone where they (MADMA) operate.

This new picture of John was taken inside of his office. I hope you enjoyed your journal update. Thanks for lending to SMT clients, please keep lending to our clients.

To see if SMT has loans in need of funding by Kiva lenders, please click here.

To view all SMT loans currently being paid back, please click here.

Regards,

Ibrahim O. Jalloh,

SMT’s Kiva Coordinator.

jamraray@gmail.com


Posted by Ibrahim Oumarr Jalloh from Makeni, Sierra Leone
Mar 12, 2009
Comments (1)

Kiva Help Repayment Schedule for Madam Group

  Expected Repayments Actual Repayments Comments
January 2009 $0.00 $2,322.50  
February 2009 $3,316.66 $0.00 Repayment Received
March 2009 $1,658.34 $0.00 Repayment Received
May 2009 $0.00 $2,652.50