Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner.

Status update — April 19, 2016

Since the last update, Kiva has still not received a payment from Soro Yiriwaso. The organization has not honored their commitment to the repayment plan previously agreed upon with Kiva. While Kiva has continuously worked on following up with Soro Yiriwaso, they have become non-responsive to Kiva’s communications and requests. Soro Yiriwaso is not fundraising for new loans and their full Kiva portfolio is currently delinquent. Kiva will continue to follow up with the partner in an effort to recover payments due and will provide additional relevant information to lenders as it becomes available.

Status update — August 10, 2015

Due to a current inability to access liquid assets, such as cash or short-term borrowing, Soro Yiriwaso has been unable to repay Kiva lenders in full for repayments made by Kiva borrowers over the past few months. These liquidity issues have been exacerbated by foreign exchange fluctuations as well. Kiva is actively monitoring Soro's evolving financial situation and is working with Soro to create a repayment plan to Kiva lenders. Kiva will continue to follow up with the partner in an effort to recover payments due and provide additional relevant information to lenders as it becomes available.

 

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 — 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.

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 $9,376,400 $863,833,075
Amount of raised Inactive loans $0 $389,950
Number of raised Inactive loans 0 242
Amount of Paying Back Loans $874,275 $136,676,100
Number of Paying Back Loans 1,034 165,975
Amount of Ended Loans $8,502,125 $726,767,025
Number of Ended Loans 9,026 902,827
Delinquency Rate 99.92% 8.24%
Amount in Arrears $654,240 $7,300,766
Outstanding Portfolio $654,745 $88,598,068
Number of Loans Delinquent 1,034 22,298
Default Rate 0.00% 1.32%
Amount of Ended Loans Defaulted $0 $9,621,719
Amount of Ended Loans $8,502,125 $726,767,025
Number of Ended Loans Defaulted 0 26,679
Currency Exchange Loss Rate 1.09% 0.43%
Amount of Currency Exchange Loss $102,284 $3,748,457
Refund Rate 0.03% 0.64%
Amount of Refunded Loans $2,550 $5,544,100
Number of Refunded Loans 4 5,818

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 87.44% 74.85%
Average Loan Size $174 $408
Average Individual Loan Size $687 $641
Average Group Loan Size $1,005 $1,805
Average number of borrowers per group 6.7 7.8
Average GDP per capita (PPP) in local country $1,100 $5,937
Average Loan Size / GDP per capita (PPP) 15.79% 6.86%
Average Time to Fund a Loan 5.56 days 6.9 days
Average Dollars Raised Per Day Per Loan $31.25 $59.06
  Average Loan Term 6.73 months 11.04 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 10,318 438,820
  Journaling Rate 100.00% 41.47%
  Average Number of Comments Per Journal 0.06 0.05
  Average Number of Recommendations Per Journal 1.03 1.29

Borrowing Cost Comparison (based on 2014 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 27% PY 24.00% PY 27.39% PY
  Profitability (return on assets) 0.5% 0.5% -0.64%
  Average Loan Size (% of per capita income) 17.70% 26.00% 19.18%

Country Fast Facts

Field Partner Staff

Adama Camara
Amadou Diarra
Moussa Fofana
Lassina Birama Koné