Matondo (2) Group
In 2012, Marina discovered HOPE Congo and joined the community bank group Matondo (2). Marina is now on her seventh loan cycle with HOPE Congo and helps lead a sub-group of three other micro-entrepreneurs. She would like to take out a loan of 500,000 XAF (Central African CFA francs) to invest in her drink business and purchase additional juices and sodas to sell. Warm and welcoming with her clients, Marina hopes to one day move on from just selling drinks to traveling to Dubai and bringing back goods such as tiles to sell in Brazzaville. In the future, Marina dreams of being able to save up enough money to buy her own piece of land and build a home.
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.
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About Congo (Rep.)
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Success!! The loan was 100% repaid