Mr. Djibil F., age 30, is a new client of U-IMCEC in Thies, a city about 50 miles from sprawling Dakar.
Djibil earned his diploma as an electrician in 1999, inspired by a long interest in all things electrical. However, he has found it difficult to find steady employment, so he supplements his income by raising chickens. Chickens can be a profitable activity, because each one can fetch as much as $6.00 in the markets. Djibil's older sister taught him the trade, and he has been raising chickens for about a year.
With this loan of 300,000 frs (Communaute Financiere Africaine francs, also known as "XOF"), he will purchase 200 chicks and about a dozen 50-kg (~110 lb.) sacks of feed. He works closely with a local veterinarian, helping him to make sure the flock stays healthy. After 6 weeks, the chicks will be fully grown chickens that are ready for sale.
Djibil says he will save the proceeds to pay for his upcoming wedding – an expensive affair!
This loan is administered by UIMCEC, a Kiva Field Partner in Senegal since 2008. UIMCEC is a government-regulated microfinance institution whose mission is to improve the revenue and well-being of families through access to financial services, allowing principally women and young adult micro-entrepreneurs living in rural and semi-rural areas to develop their revenue-generating businesses and supporting them in becoming financially self-sufficient.