Total loan: $700
Koutiala, Sikasso, Mali / Food
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A loan helped To purchase rice.
Madame Adizatou Traoré is 37 years old, married and has six children. She lives in a nuclear family with her husband and their children in the Nangosso district of Koutiala prefecture (third administrative region of the Republic of Mali). Born into a family of tradesmen, Madame Traoré was initiated into revenue-generating activities at a very young age (her parents never wanted her to attend school). After a long apprenticeship at her grandmother’s side, she decided to specialize in trading cereals ten years ago now. There is a very heavy demand from her clientele because rice constitutes one of Mali’s basic foods. Anxious to better satisfy her clientele, in 2004 she decided to turn to the microfinance organization Soro Yiriwaso (Kiva Field Partner). With an experience of six solidarity loans (group loans) fully repaid, she is on her second individual loan; the first having been completed with no problem. With this loan Madame Traoré intends to buy a ton of rice at Niono (one of the largest rice-growing areas in the Republic of Mali) from the growers in the rice fields.She retails the rice for cash or credit at the big market in Koutiala to a clientele consisting of both men and women. This is a very lucrative operation, with a large profit margin, such that she expects to make a profit of 70,000 FCFA ($150) per cycle. This profit will be used to repay the loan interest and contribute to the family expenses. Soon Madame Traoré hopes to open a small warehouse for the cereals in the Koutiala market.
Translated from French by Alison Dent, Kiva Volunteer