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Lolo Group
In this Group: Maimouna , Ami, Sabou , Sata , Sitan
LOLO is a group from the BENKADI association from Baturu. It comprises five women who know one another through family and neighbourhood links. They have an average age of 35. Married with on average four children, they conduct various business, such as the trading of rice and cereals in the case of Maimouna, who is seated on the right in the photo.
They live in large, traditional families in Baturu, which is in the district of Yanfolila (an area of Sikasso, in the Republic of Mali). They have been in business for several years and are in great demand in their business areas.
With a view to meeting the growing needs of their customers, the group members decided to join the Soro Yiriwaso credit program five years ago. They are now on their seventh mutual loan.
Maimouna, who is the group leader and very well known in Kangare, excels at selling rice and cereals. She plans to use her loan to purchase five sacks of rice and three sacks of sorghum. She buys her supplies in Dalabala as well as locally from wholesalers, and she sells in both Dalabala and Kangare - retail - for both cash and credit, to a customer base of both men and women.
She is hoping for a monthly profit of 25,000 FCFA which will allow her to repay the loan and to invest in her business.
View original language description ↓
LOLO est un groupe de l’association BENKADI de BATURU. Il regroupe 5 femmes qui se sont connues à travers des liens de parenté et de voisinage. Elles ont une moyenne d’âge de 35 ans. Mariées avec en moyenne 4 enfants, elles mènent différentes activités telles l’achat vente de riz et de céréale à l’image de MAIMOUNA qui est la première assise de la droite vers la gauche de la photo. Elles vivent dans des grandes familles traditionnelles à BATURU dans la préfecture de YANFOLILA (Région de SIKASSO, République du Mali).
Elles sont dans le petit commerce depuis plusieurs années et sont très sollicitées dans leurs activités.
Dans le souci de satisfaire le besoin croissant de leur clientèle, les membres du groupe ont décidé d’intégrer le programme crédit de Soro Yiriwaso il y a cinq ans. Elles sont à leur septième prêt solidaire.
MAIMOUNA, qui est la présidente du groupe et très connue à KANGARE, excelle dans la vente de riz et céréale. Elle compte utiliser son prêt pour acheter 5 sacs de riz et 3sacs de sorgho. Elle s’approvisionne à DALABALA et sur place auprès des grossistes et vend ses grains à DALABALA et KANGARE, en détail, au comptant et à crédit, à une clientèle composée d’hommes et de femmes.
Elle espère sur un bénéfice mensuel de 25.000FCFA somme qui lui permettra de rembourser le prêt et de réinvestir dans son activité.

Additional Information

Important Information

Soro Yiriwaso is a microfinance institution that works primarily in rural and semi-urban areas of Mali to provide underprivileged communities with access to financial services.The organization facilitates access for disadvantaged clients, particularly women, to new resources and services, fostering solidarity and cooperation among its clients. Kiva lenders’ funds will enable Soro Yiriwaso to expand its outreach and target even more underserved Malians involved in business and agriculture.

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 Mali

  • $1,200
    Average annual income
  • 154
    View loans »
    Mali Loans Fundraising
  • $11,272,850
    Funds lent in using Kiva
  • 502.0
    Communauté Financière Africaine Francs BCEAO (XOF) = $1 USD

Success!! The loan was 100% repaid

A portion of Lolo Group's $1,000 loan helped a member to purchase cereals.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 13, 2013
Listed
Jun 27, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2013