A loan of $1,100 helped a member bolstering each member's small business.

Serigne Babacar Sy No. 1 Group's story

Sope Serigne Babacar Sy is an association of female commercantes (vendors) working in Thies, a city about 70km from Dakar. The association, named after an important marabout (a religious leader in West African Islam), was founded in 2006 by a group of entrepreneurial women from the Cité Lamy neighborhood. The aim was to help the members finance their small businesses through a revolving savings fund called a tontine, in which members contribute a small amount to the pot each month to finance one member's activities.

Today, the association has evolved to secure group loans for its members through cooperation with UIMCEC, a Kiva partner. Groups of five are financed through 10-month loans in which each member receives an equal amount. On the 20th of each month, the members of the association hold a meeting to collect the repayments. CurrentL., there are 14 groups of women financed through UIMCEC. Sope Serigne Babacar Sy is headed by Ms. Coumba Faye, the president, and Ms. Oumu Ngom, the treasurer.

Ndeye Fatim P. heads group No. 1. She is partners with her older sister, Arame P., who is also in the group. Together, they take turns making the trip to their aunt's farm to purchase peanuts to sell in the market of Grand Thies, a neighborhood in the middle of the city. They have been in the business for some six years. Ndeye also sells breakfast to her neighbors, mainL. sandwiches with niébe (bean spread), mayonnaise or tuna.

The other three members are: Coumba L., who also sells peanuts; Mame Saye D., who sells Marmite cooking pots; and Diarra D., who sells detergents and soaps. Each member of the group receives 100,000 CFA francs to finance their activities.

In this group: Ndeye Fatim, Arame, Coumba, Mame Saye, Diarra

Loan details

Lenders and lending teams

Loan details