Main De Dieu (1) Group
An extremely labour-intensive but profitable business, Augustine hopes to continue her manioc-making trade in the future. To continue to do so, she would like to take out a loan for 300,000 Congolese francs from HOPE Congo to purchase additional cassava root.
Augustine joined HOPE Congo earlier this year and is a member of the community bank group MAIN DE DIEU (1). She leads a subgroup of 10 other micro-entrepreneurs in Brazzaville, the Republic of Congo.
In the future, Augustine hopes to be able to build her own home on a piece of land that she owns, saving up little by little from her business profits. She also dreams for her children, praying that they will all be able to finish school well.
About HOPE Congo S.A.: HOPE Congo S.A. is a start-up microfinance institution located in Brazzaville, Republic of the Congo. As of 2009, the Republic of the Congo was the 136th-ranked country in the United Nations Development Programme’s Human Development Index. The average life expectancy is in the low 50s and food insecurity poses a constant threat to ordinary people’s well-being. Through the creation of community banks, HOPE Congo provides credit, savings, and training for entrepreneurs in Brazzaville. With their services, they aim to nourish a culture of saving and an independent community of responsible and self-sustaining entrepreneurs.
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 Congo (Rep.)
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Success!! The loan was 100% repaid