Total loan: $975
Sikasso, Sikasso, Mali / Retail
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A loan helped Purchase of hardware materials.
Born on 18th November 1979 in Sikasso, Mr. Ousmane S.is married and lives with his wife in Mamassoni, one of the outer neighborhoods of the town of Sikasso (in the third administrative region of the Republic of Mali). Having run several unsuccessful businesses, Mr. S.began trading, principally in the purchase and sale of electrical materials, seven years ago. He has had a hardware store for two years now; before that he ran his business on a door-to-door basis with a customer base composed generally of entrepreneurs, and above all electricians. He is in much demand from his customers because of the quality of his products. In order to satisfy the ever increasing number of customers, he decided to join the micro-finance company, Soro Yiriwaso, and he is now on his second loan, the first having been repaid without incident. With this second loan he is planning to buy 25 boxes of contactors (or circuit protection devices), 30 boxes of different types of bulbs, 35 pairs of rails, 15 packets of circuit breakers, cables etc. He stocks up in Bamako, Bobo Dioulasso, Koumassi and Abidjan (respectively in Mali, Burkina Faso, Ghana and the Ivory Coast) before retailing them for cash or credit. He intends with this loan to make a monthly profit of 250,000 FCFA, which will be used principally to increase his working capital, to contribute to family expenses and to pay the interest on his loan; he will invest the remainder in his business.
Translated from French by Alison Le Bras, Kiva Volunteer