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Faïda (L’Élégance) Group
In this Group: Mariam , Awa , Salimata , Aminata , Soumba
The five women of the “Faïda” (elegance) group are all married. They have an average age of 34 and, on average, 5 children, and they live in big traditional extended families in Sogomougou neighborhood of the town of Koutiala (Sikasso region, Republic of Mali). They met because they are neighbors and are in the same business. Their business is selling shoes and soap. They are much in demand for these products.



So as to satisfy the needs of their growing clientele, the Faïda group decided to join the micro-finance institution Soro Yiriwaso with whom they are on their 3rd solidarity loan (group loan). All the preceding loans have been correctly reimbursed.



They intend to use this loan to buy bales of plastic shoes and cases of soap in Bamako (the capital of the Republic of Mali). The shoes and soap are sold retail, for cash or credit, in the market of Koutiala, in businesses, or door-to-door. They each expect to make an average profit of 110,000 F CFA during this loan cycle, which will be used to pay the interest on the loan and cover needs of their extended families, investing any remainder back into their businesses.



Their ambition is to diversify their businesses by taking up other money-earning ventures such as opening a cosmetics shop.

View original language description ↓
Les cinq femmes du groupe Faïda sont toutes mariées, elles ont une moyenne d’âge de 34 ans et 5 enfants vivant dans des grandes familles traditionnelles élargies au quartier Sogomougou de la ville de Koutiala (région de Sikasso, république du Mali). Elles se sont connues à travers des liens de voisinage et pour la pratique de la même activité.
Elles exercent presque les mêmes activités de vente de savons et de chaussures. Elles sont très sollicitées dans cette activité.
Afin de satisfaire le besoin de sa clientèle qui ne cesse d’augmenter, le groupe Faïda a décidé d’intégrer l’institution de microfinance Soro Yiriwaso avec laquelle il est à son troisième prêt solidaire (prêt de groupe). Tous les prêts précédents ont été correctement remboursés.
Elles comptent utiliser ce prêt pour acheter des balles de chaussures en plastique et des cartons de savons à Bamako (la capitale de la république du Mali). Les chaussures et les savons sont vendus en détail, au comptant et à crédit au marché de Koutiala, dans les entreprises ou de maison à maison.
Elles espèrent réaliser chacune un bénéfice moyen de 110 000 FCFA au cours de ce cycle qui sera utilisé pour payer les intérêts du prêt, subvenir au besoin de la famille élargie et investir le reste dans les activités.
Elles ont pour ambition de diversifier leur commerce en embrassant d’autres activités génératrices de revenus telle que l’ouverture d’un magasin de produits de beauté.

Additional Information

Important Information

Soro Yiriwaso is a microfinance institution that works primarily in rural and semi-urban areas of Mali to provide underprivileged communities with access to financial services.The organization facilitates access for disadvantaged clients, particularly women, to new resources and services, fostering solidarity and cooperation among its clients. Kiva lenders’ funds will enable Soro Yiriwaso to expand its outreach and target even more underserved Malians involved in business and agriculture.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Mali

  • $1,200
    Average annual income
  • 21
    View loans »
    Mali Loans Fundraising
  • $10,738,725
    Funds lent in using Kiva
  • 467.2
    Communauté Financière Africaine Francs BCEAO (XOF) = $1 USD

Success!! The loan was 100% repaid

A portion of Faïda (L’Élégance) Group's $1,075 loan helped a member purchase of shoes and soap for re-sale.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 9, 2009
Listed
Aug 1, 2009
Currency Exchange Loss:
Covered
Ended:
Jan 15, 2010