The OLOUWACHEYI group is comprised of three friends who belong to the same revolving credit fund. The group representative, Adjokè Moussilatou, has her hand raised in the photo. This is the first time the group is asking for financial support from ALIDé in order to grow their business.
Adjokè Moussilatou is a widow. Of her six children, only two are still dependent, and all of them go to school. Adjokè Moussilatou lives with her two dependent children and takes care of her needs as well as those of her children.
About 20 years ago, Adjokè Moussilatou started selling hair extensions, jewelry, and other hair products at a market in Benin. Adjokè Moussilatou buys her supplies in Benin.
Her clients' demands are constantly growing, with her limited means, Adjokè Moussilatou is no longer able to respond to their needs. Given that, and taking into account their limited resources, the members of OLOUWACHEYI and Adjokè Moussilatou are asking for a first loan from ALIDé.
Le groupe OLOUWACHEYI est formé de trois personnes qui sont des amies et qui appartiennent à un même groupe de tontine. La représentante de ce groupe, nommée Adjokè Moussilatou est celle dont la main est levée sur la photo. C’est la première fois que ce groupe sollicite l’appui financier de ALIDé en vue d’élever le niveau de leur activité. Adjokè Moussilatou est une veuve et mère de six enfants, tous scolarisés. Parmi ses enfants, deux seulement restent à sa charge. Adjokè Moussilatou vit donc seule avec ses deux enfants à charge et assure seule ses différentes charges ainsi que celles de ses enfants. Il y a vingt ans environs que Adjokè Moussilatou mène comme activité la vente de mèches, de bijoux et autres produits de cheveux dans un marché du Bénin. Adjokè Moussilatou s’approvisionne au Bénin. La demande de sa clientèle devient de plus en plus grande et compte tenu de ses moyens limités, Adjokè Moussilatou n'arrive plus à bien répondre à leurs exigences. Eu égard à cela et compte tenu de leurs ressources limitées, Adjokè Moussilatou et les autres membres du groupe OLOUWACHEYI sollicitent ensemble un premier crédit auprès de ALIDé.
Alidé is a Beninese NGO that works to reduce poverty by offering sustainable access to productive loans like this one in addition to savings, training sessions, and social work to low-income families.
Supporters of this loan should be aware that there is some risk of being repaid late. Because the Beninois Ministry of Finance has imposed restrictions on the amount of money Alidé can send to Kiva, the organization can only send monthly repayments in installments smaller than $13,000. This means that some Kiva lenders may receive their repayments late. However, Alidé remains a healthy institution in good standing with its creditors, and Kiva would like to continue working to support its clients. For more information, please refer to Alidé's partner profile page.
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.