Last updated January 31, 2013

Status Update - January 31, 2012

Soro Yiriwaso's risk rating has been changed from 3 stars to 2 stars, signifying an increase in risk. This change resulted from a regular re-assessment by Kiva analysts, and is based on operational and financial data collected about this partner, as well as conversations with key members of its staff.

In 2012, Soro experienced a period of insufficient liquidity and was unable to repay several of its creditors on time. However, the institution is currently up-to-date with its repayments to Kiva, and we feel comfortable continuing to support its excellent work in Mali.

Partner Description:

Soro Yiriwaso (Soro) is a microfinance institution started by the Sahel field office of American non-governmental organization Save the Children. Soro lends solidarity-based credit to poorer borrowers, and was officially registered by the Ministry of Economy and Finance of the Malian Government in 2003.

As a rurally-focused microfinance institution, Soro’s product portfolio is focused on two sectors: agriculture and commercial business. Agriculture loans include seasonal loans for groups of female farmers and individual loans for buying, stocking and commercializing agricultural products.

The organization’s commercial loans include loans for entrepreneurs running small-to-medium sized enterprises who need working capital or additional equipment to grow and generate more income. Group loans are also available to support women involved in small business.

A picture of Soro’s female clients grouped together through a solidarity-based credit.

Status Update - April 5, 2012

Due to the recent military coup in Mali, organizations are prohibited from transferring funds outside of the West African Economic Monetary Union. Accordingly, Soro Yiriwaso is unable to send borrowers' repayments to Kiva this month, leading to an artificially high delinquency rate. Kiva will roll Yiriwaso's balance to next month and reevaluate the situation at that time. We will also continue to post loans from this Field Partner for lenders to fund.

Status Update - September 11, 2011

With an aim to fully migrate risk ratings to our new and enhanced risk rating system, Kiva has conducted a reassessment of the level of risk posed by this institution. The information gathered during this process has led us to revise Soro Yiriwaso's risk rating from 4 to 3 stars. The analysts have found that Soro Yiriwaso's risk variables, reviewed in the new risk rating model, were most representative of a 3 star rating. To view the updated chart, please go here.

Image courtesy of Soro Yiriwaso.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Feb 12, 2008 Oct 12, 2005
Total Loans $7,638,325 $590,493,925
Amount of raised Inactive loans $0 $760,725
Number of raised Inactive loans 0 618
Amount of Paying Back Loans $1,694,200 $122,947,725
Number of Paying Back Loans 1,530 130,861
Amount of Ended Loans $5,944,125 $466,785,475
Number of Ended Loans 6,780 593,552
Delinquency Rate 0.00% 4.24%
Amount in Arrears $0 $3,465,940
Outstanding Portfolio $1,145,033 $81,785,048
Number of loanDelinquent 0 16,779
Default Rate 0.00% 1.15%
Amount of Ended Loans Defaulted $0 $5,349,645
Amount of Ended Loans $5,944,125 $466,785,475
Number of Ended Loans Defaulted 0 16,827
Currency Exchange Loss Rate 0.00% 0.09%
Amount of Currency Exchange Loss $0 $536,772
Refund Rate 0.03% 0.77%
Amount of Refunded Loans $2,550 $4,537,625
Number of Refunded Loans 4 5,064

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 87.17% 74.17%
Average Loan Size $172 $418
Average Individual Loan Size $690 $656
Average Group Loan Size $995 $1,828
Average number of borrowers per group 6.8 8
Average GDP per capita (PPP) in local country $1,200 $3,430
Average Loan Size / GDP per capita (PPP) 14.31% 12.19%
Average Time to Fund a Loan 5.21 days 5.59 days
Average Dollars Raised Per Day Per Loan $32.96 $74.77
  Average Loan Term 6.73 months 10.35 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 7,709 295,681
  Journaling Rate 100.00% 42.39%
  Average Number of Comments Per Journal 0.08 0.08
  Average Number of Recommendations Per Journal 1.37 1.87

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 21% PY 24.00% PY 33.46% PY
  Profitability (return on assets) 1.1% 0.5% -1.39%
  Average Loan Size (% of per capita income) 17.70% 26.00% 41.11%

Country Fast Facts

Field Partner Staff

Adama Camara
Amadou Diarra
Moussa Fofana
Lassina Birama Koné
Moussa Tangara