Her big challenge is that her receipts are in local currency, the Congolese Franc. However, this is not a stable currency and the inflation is growing, which results in losses when Congolese Francs are exchanged into hard currency (US dollars). Like all locals, distrusting the Congolese currency, Kabira keeps her savings in US dollars. In addition, the production of “Madrakwa” is very labor-intensive, given that she is still using a very rudimentary technology, and thus she would like to change her type of business in the future. She would like to see her children finish their studies.
Thanks to the loans from Hekima, Kabira K. already has made visible progress: her earnings have allowed her to build a house with two bedrooms and a living room; she rents out the house to increase her income. Kabira Kalondera thanks Hekima for assisting impoverished citizens who do not have access to the traditional banking system. It should also be mentioned that the Iraqi group consists of 14 members.
Important InformationHEKIMA is a microfinance institution headquartered in Goma, Democratic Republic of the Congo (DRC), with branch offices in Goma and Bukavu. HEKIMA aims to contribute to the transformation of the economic, social, and spiritual lives of the economically active poor of the DRC. To this end, HEKIMA provides its clients with solidarity group loans to support income-generating activities. Despite ongoing instability and violence in its operating areas, HEKIMA continues to keep its doors open and provide credit and savings services for its over 90% female clientele.
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 Congo (Dem. Rep.)
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Success!! The loan was 100% repaid