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

Sope Serigne Babacar Sy Group No. 3'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. 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. Currently, there are 14 groups of women financed through UIMCEC. Sope Serigne Babacar Sy is headed by Ms. CoumB. Faye, the president, and Ms. Oumu Ngom, the treasurer.

Awa B. heads group No. 3. She has been selling perfumes and cosmetics for about four years. Awa chose perfume sales as they sell quite quickly - currently, the Casablanca and Aqua de Gio scents are the best sellers, she says. Awa is married and the mother of two children, aged 2 and 6.

The other groups members are: Mareme D., who sells detergents and soaps; Gnangna D. who has a small kiosk selling small items from perfumes to candies; Maimouna F. who has a small vegetable stall in the market of Grand Thies; and Aly T. who sells marmite cooking pots in the same market. Each group member receives 100,000 FCFA in loan financing to bolster her respective activity. This is the second loan for the group.

In this group: Awa, Mareme, Gnangna, Maimouna, Aly

Loan details

Lenders and lending teams

Loan details