The group Dzidudu was created three years ago and consists of three courageous women. They buy pagnes (printed fabric used for clothing) in Lomé and re-sell them at retail prices in the neighbouring villages of Adéta. With the income from this business, these three women contribute effectively to their household expenses. With the current loan, they would like to increase their stocks.
Translated from French by Vilas Menon, Kiva Volunteer
Le groupement Dzidudu est crée depuis trois ans et compte trois femmes courageuses. Elles achètent les pagnes à Lomé et les revendent en détail dans les marchés des villages environnants d'Adéta . Avec le revenu tiré de l'activité ,ces trois femmes contribuent efficacement aux charges familiales. Avec le présent emprunt elles désirent augmenter leur stocks
About FECECAVFECECAV is a cooperative union registered in 1997. Its mission is to serve the financial needs of local people who have been excluded from the traditional financial system. It serves more than 50,000 members in the Plateau and Maritime regions of Togo. FECECAV is a not-for-profit organization.
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.
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Success!! The loan was 100% repaid