Babacar knows many of the traders who attend the weekly markets, so his animals are usually sold in advance, meaning that he has no problems disposing of them. His only problem is to find enough money to allow him to increase the number of animals that he has. Babacar takes care of his animals himself, taking them to pasture from eight in the morning until six in the evening.
With the money that he earns, Babacar pays for his children's studies and improves the standard of food available for his family, including his mother, for whom he is financially responsible.
If he had the resources, Babacar would like to expand his herd and have many more cattle, this would maximise his earnings.
Il paie les études de ses enfants avec les bénéfices acquises, améliore les conditions alimentaires de sa famille y compris sa mère qui est aussi à sa charge.
S’il a les moyens, Babacar aimerait avoir beaucoup d’autres bœufs, agrandir son troupeau, pour pouvoir maximiser son profit.
More information about this loan
To reach borrowers who would not normally qualify for loans, UIMCEC has developed partnerships with a number of local organizations created by the poor to promote savings and mutual support. Most members of these organizations take group loans from UIMCEC. Some group members have larger businesses requiring more capital, and therefore receive individual loans. To meet their needs, UIMCEC is offering this loan at a lower interest rate with no material guarantee requirement. By supporting this loan, you are helping poor borrowers access credit at lower interest rates.
About UIMCECThis loan is administered by UIMCEC, a Kiva Field Partner in Senegal since 2008. UIMCEC is a government-regulated microfinance institution whose mission is to improve the revenue and well-being of families through access to financial services, allowing principally women and young adult micro-entrepreneurs living in rural and semi-rural areas to develop their revenue-generating businesses and supporting them in becoming financially self-sufficient.
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