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 — March 19, 2021

Soro Yiriwaso sent $20K to Kiva in September, 2020. At this time, Kiva and Soro Yiriwaso are only communicating via legal counsel as Kiva continues our efforts to collect the remaining amount due to Kiva lenders. We thank Kiva lenders for their ongoing patience with this prolonged delinquency and plan to default the remaining paying back loans to Soro Yiriwaso if and when we conclude that further payment is unlikely.

Status update — February 28, 2018

Soro Yiriwaso sent $35K to Kiva, which has been settled out to lenders on a pro-rata basis. We continue to pursue efforts to collect on their remaining debt, including seeking local legal representation. Any future repayments received will be settled to lenders on a pro-rata basis, and we thank lenders for their continued patience as we continue to pursue recovery of the amount owed by this partner.

Status update — September 28, 2017

After a recent visit by Kiva staff Soro Yiriwaso sent $44K to Kiva, which has been settled out to lenders. We continue to pursue effort to collect on their remaining debt, but are unsure as to when we can expect future repayment. We thank lenders for their continued patience and will share more information when it becomes available. 

Status update — June 5, 2017

Soro Yiriwaso's outstanding loans have yet to be defaulted, as Kiva continues to pursue all efforts possible to recover lender funds. Given the large amount outstanding, Kiva has entered discussions with a local lawyer to explore legal options available in the country. We hope to have more clarity soon and be able to determine whether future recovery of this outstanding debt is possible or move forward with defaulting Soro Yiriwaso's outstanding loans. We thank lenders for their patience and hope to have more information soon. 

Status update — October 21, 2016

Kiva staff visited Soro Yiriwaso in June 2016 to discuss the repayment terms of their current outstanding debt. While an initial agreement had been made, Soro Yiriwaso has not followed up with the subsequent actions or made repayments since these discussions. Soro Yiriwaso has once again become non-responsive to Kiva’s communications. Given these ongoing issues and the serious concerns they raise, the partnership between Kiva and Soro Yiriwaso has been formally paused and it is unlikely the institution will be able to raise funds again on the Kiva platform. Despite efforts to recover repayments owed to lenders, at this stage future repayment seems unlikely, and all loans are expected to be defaulted in the near future.

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 $1,592,501,645
Amount of raised Inactive loans $0 $577,700
Number of raised Inactive loans 0 201
Amount of Paying Back Loans $839,650 $162,784,650
Number of Paying Back Loans 987 198,589
Amount of Ended Loans $8,536,750 $1,429,139,295
Number of Ended Loans 9,073 1,888,532
Delinquency Rate 100.00% 16.99%
Amount in Arrears $423,486 $17,265,868
Outstanding Portfolio $423,486 $101,626,943
Number of Loans Delinquent 987 52,893
Default Rate 0.00% 1.69%
Amount of Ended Loans Defaulted $0 $24,216,264
Number of Ended Loans Defaulted 0 60,169
Currency Exchange Loss Rate 1.06% 0.40%
Amount of Currency Exchange Loss $99,528 $6,915,950
Refund Rate 0.03% 0.59%
Amount of Refunded Loans $2,550 $9,457,725
Number of Refunded Loans 4 8,817

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 87.44% 77.42%
Average Loan Size $174 $392
Average Individual Loan Size $687 $601
Average Group Loan Size $1,005 $1,800
Average number of borrowers per group 6.7 8
Average GDP per capita (PPP) in local country $1,100 $5,684
Average Loan Size / GDP per capita (PPP) 15.79% 6.90%
Average Time to Fund a Loan 5.56 days 8.06 days
Average Dollars Raised Per Day Per Loan $31.25 $48.64
  Average Loan Term 6.73 months 11.35 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 12,288 969,693
  Journaling Rate 100.00% 42.43%
  Average Number of Comments Per Journal 0.05 0.03
  Average Number of Recommendations Per Journal 0.86 0.68

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 26.61% PY
  Profitability (return on assets) 0.5% 0.5% -0.34%
  Average Loan Size (% of per capita income) 17.70% 26.00% 11.35%

Country Fast Facts

Field Partner Staff