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Lolo Group
In this Group: Fanta , Coumba , Korotoumou , Aïssata
The 'Lolo' Group is made up of four women, of whom, two are polygamous. They are, on average, thirty-seven years old, and have five children. The women all live in Sirakoro Dounfing, and know one another through family, friendship and neighbourhood ties. Most of the women make millet cakes, pre-cooked fonio, millet semolina and dégué (African porridge).

In order to increase their working capital, the group work with the field partner, Soro Yiriwaso, and this will be their third group loan.

Korotoumou (sitting on the far right of the photo) has a well-earned reputation selling all sorts of food products. She will use her loan to buy five sacks of rice and ten sacks of millet at the market. She sells her products to various individual customers in Sirakoro Dounfing, and sometimes sells on foot.

Korotoumou hopes to earn a monthly average of 80,000 francs CFA, which will be reinvested in her business.
View original language description ↓
Le groupe Lolo est composé de 4 femmes parmi lesquelles il y’a 2 polygames. Elles ont en moyenne 37ans et 5 enfants. Elles habitent toutes à Sirakoro Dounfing et se sont connues à travers des liens de parenté, d’amitié et de voisinage. La plupart des membres du groupe font la transformation des céréales en galettes de mil, fonio précuit, semoule de mil et « dégué ». Dans le but d’augmenter leurs fonds de commerce, les membres du groupe ont décidé de collaborer avec Soro Yiriwaso et sont à leur 3èmecycle de prêt solidaire.
La cliente Korotoumou (femme assise à l’extrême droite sur la photo) a une grande réputation dans la vente des produits alimentaires de toutes sortes. Elle compte utiliser son prêt pour acheter 5sacs de riz et 10 sacs de mil au marché. La revente se fait en détail à Sirakoro Dounfing et en ambulant à une clientèle mixte. Madame Korotoumou espère réaliser avec ce prêt un bénéfice mensuel moyen de 80 000 FCFA qui sera utilisé, pour être réinvesti dans l’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.

Tags

About Mali

  • $1,200
    Average annual income
  • 21
    View loans »
    Mali Loans Fundraising
  • $10,738,725
    Funds lent in using Kiva
  • 477.5
    Communauté Financière Africaine Francs BCEAO (XOF) = $1 USD

Success!! The loan was 100% repaid

A portion of Lolo Group's $2,525 loan helped a member to buy cereals to make millet cakes (Takoula) for sale.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 14, 2014
Listed
Mar 2, 2014
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014