Kpanda 1 Group
Madou is 45 years old, and he is a member of the group Kpanda 1 He takes care of two persons at home. He has been a part of the cooperative COOBADI for five years, and he has 32 hectares of cocoa.
Thanks to loans, he is going to be able to purchase some fertilizers for his plantation. These products will enable him to augment his production and thus to increase his revenues.
With the additional money, he wants to expand his cocoa plantation and diversify his revenues by getting started in rubber trees and oil palms.
Madou a 45 ans et il est un membre du groupe Kpanda 1. Il s‘occupe de 2 personnes dans son foyer. Cela fait 5 ans qu’il fait partie de la coopérative COOBADI et il a 32 hectares de cacao.
Grace au crédit, il va pouvoir acheter de l’engrais pour sa plantation. Ces produits vont lui permettre d’augmenter sa production et ainsi d’accroître ses revenus.
Avec l’argent supplémentaire, il veut étendre son exploitation de cacao et diversifier ses revenus en se lançant dans l’hévéa et le palmier à huile.
More information about this loan
This loan is part of Advans Côte d'Ivoire's Cocoa Livelihoods Program, which provides credit to cocoa producers who belong to a participating fair-trade certified cooperative. This Kiva loan will thus be used to provide borrowers with needed goods or services, as opposed to cash or financial credit. In addition to credit, farmers receive technical assistance, management training, and access to high-quality agricultural inputs like fertilizer and seeds through the cooperative. To guarantee the loan and share liability, the cooperative has taken out the funds as a group. Lenders are advised that fluctuations in cocoa prices and the local climate could impact repayment.
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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