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Abu Bakarr's Group
In this Group: Abu Bakarr , Abdul Rahman, Rugiatu Beatrice , Hamid Saidu
These borrowers are primary school teachers in Wellington, which is on the outskirts of Freetown, Sierra Leone’s capital city. School teachers are among the lowest-paid workers in Sierra Leone. The majority, therefore, has to do extra work in order to make ends meet. Salone Microfinance Trust in partnership with Kiva is very helpful in mitigating the problems of teachers. Salone Microfinance Trust offered “Salary Loans” to teachers and other government workers in all SMT's operational areas. These loans help them solve their immediate financial challenges and, at the end of each month, they can easily repay their loan using their monthly salaries. It is their school’s bursar who is directly responsible for deducting the repayment and pays SMT/Kiva lenders on their behalf.
Their leader is Abu Bakarr.. The 52 year old man is a native of Yoni village in Northern Sierra Leone. He is married to a teacher and together they have 6 children who are attending schools. Abu Bakarr has been a teacher for many years now. He has requested for a loan of 2,600,000 Leones in order to buy house building materials like cement, iron, corrugated zincs, etc. for the construction of a family dwelling house.

Additional Information

About Salone Microfinance Trust (SMT)

Salone Microfinance Trust (SMT) is Kiva’s oldest field partner in Sierra Leone. SMT began operations in 2002 as a microcredit program of the NGO Child Fund Sierra Leone under a USAID program to assist the reintegration of ex combatants back into their communities. Today, SMT offers group, agricultural, individual and salary loans to micro-entrepreneurs through six branches and one sub-branch in rural, urban, and peri-urban areas. By providing small loans and other financial services, SMT empowers poor clients to generate more income to help their families, improve their wellbeing, and create a more vibrant private small-business sector in Sierra Leone.

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 Sierra Leone

  • $903
    Average annual income
  • 0
    View loans »
    Sierra Leone Loans Fundraising
  • $8,868,550
    Funds lent in using Kiva
  • 4,310.3
    Sierra Leone Leones (SLL) = $1 USD

Success!! The loan was 100% repaid

A portion of Abu Bakarr's Group's $1,500 loan helped a member to buy house building materials like cement, iron, corrugated zincs, etc. for the construction of a family dwelling house.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 25, 2012
Listed
Nov 20, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013