A loan of $1,050 helped purchase of local products such as dried fish, palm oil, and fruit; transport and resale in villages where they are scarce.

Mamadou's story

This is a group loan to be shared by the five members of the Khalobe association, led by Mr. Mamadou D.. In their loan application, the group described their business as follows:

“Background: The project is located in the village of Boucotte Ouolof, a village whose people have been confronted with difficulties of survival since the local hotel closed in April. This is why the Khalobe group is requesting a loan of 500,000 francs [about $1050].

creation of employment
improving the living conditions of the members of our group
lightening the burden of the housewife

Business activities: The business activities of our group consist of buying and reselling local products in our village and in surrounding villages.”

Senegal is one of the world’s poorest countries, yet its solid democratic tradition and highly developed associational life distinguish it from other countries in its income group. Especially remarkable are Senegal’s networks of rotating savings and credit associations, which provide the rural poor throughout the country with small loans to finance modest income-generating activities. Repayment rates within these groups are excellent, because they are based on local reputation and personal trust between the members. However, their financial resources are limited to the contributions of their members, frequently subsistence farmers with very little disposable income. This has prevented the traditional associations from meeting the demand for rural microenterprise loans and restricted their impact on the economic development of their communities. The SEM Fund works to bridge this gap by linking traditional village credit associations with outside sources of finance.

Original French business description:

«Contexte : Le projet se situ dans l’éco village de boucotte ouolof ; village qui à la fermeture des hôtels au mois d’avril, les populations se confrontent à des difficultés de survie.
C’est pourquoi, le groupement Khalobé vient sollicité un financement de 500 000f

Objectif :
Création d’emploi

Amélioration des conditions de vie des membres du groupement

Allégement du panier de la ménagère

Activités : Les activités du groupement consiste à acheter et à revendre des produits dans le village et dans les villages environnant.»

Loan details

Lenders and lending teams

Loan details