Total loan: $450
Sikasso, Sikasso, Mali / Retail
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A loan helped to buy firewood.
Born 45 years ago in Doumanani, Sikasso Prefecture, Souleymane is a polygamous man who has two wives and eleven children. He and his family are residents of Hamdallaye, a working-class district of Sikasso City (3rd administrative region of the Republic of Mali). After having run several businesses without success, he finally was introduced, about two years ago, to the buying and selling firewood, which he buys from peasant farmers in and around Denderso. He is much in demand by his customers for the quality of his products. To satisfy his burgeoning customer base, he decided to join the micro-finance institution Soro Yiriwaso and is now on his first individual loan with this institution. With this initial loan, he intends to buy two 10-tonne truckloads of firewood. His retail sales are in cash to a diverse and varied customer base. With this loan, Souleymane envisions making a monthly profit of 100,000 francs CFA that will be used essentially for covering family expenses and the loan interest. The rest will be invested in his business.