The Truth Group

This is Anjay A. Turay, Bah Neneh Jalloh, Jalloh Bah Neneh, Fatmata Tarawalie and Mamai Turay. They named their group The Truth. They are all local entrepreneurs in Makeni in northern Sierra Leone. This is their fourth loan from Kiva through SMT. Previously, each one of them in the group received a loan of 800,000 Leones (a little over USD$250). That loan created meaningful impacts in the lives of these borrowers. They were able to use the proceeds to pay for their children’s school fees. They’re also able to feed and clothe themselves and their children with the income generated from the loans. Now, they are requesting a loan of 1,000,000 Leones each to buy more goods to add to their businesses.

Anjay (left) is the leader of the group. He is thirty-nine years of age. He was born in Makeni. His wife is a businesswoman and the two have four children – two in secondary school and two in primary school. He has been a businessman for over 10 years now. Anjay owns a small, local recording studio where he also sells tapes. He will use this new loan to buy two more cassette recorders and blank and non-blank tapes. The tape recorders, locally referred to as Simba, will cost him 350,000 Leones in Freetown. He will be using one of the tapes to play songs and the other for recording songs.

Traveling to Freetown so often to buy the tapes is the only major challenge facing Anjay in his business. He hates traveling so often and whenever he runs out of tapes, he is forced to make the trek to Freetown to buy the required number of tapes needed to replace the sold ones. But with this loan, the amount of traveling he’ll have to do will diminish as he will be able to buy a lot of tapes in one trip.

With the increase in profit Anjay will make as a result of the loan, he will be able to develop his business by reinvesting the profit into the business. With more profit, he hopes to start including compact discs in his music collection.



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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